# How Artist Claude Edwin Theriault Sees the Strategic Bitcoin Reserve Act S.4912 as a Sign of Economic Change in the 118th Congress (2023-2024): BITCOIN Act of 2024
As the U.S. economy grapples with its staggering $35 trillion debt, a controversial new bill—S.41912, the Strategic Bitcoin Reserve Act—is capturing attention across political and economic circles. Pushed forward by newly re-elected President Trump, this initiative seeks to create a “Strategic Bitcoin Reserve” for the United States. The bill’s aim is to mitigate the growing national debt and bolster the U.S. dollar’s standing by establishing a transparent Bitcoin holding system managed by the Federal Government.
Contemporary artist and blockchain enthusiast Claude Edwin Theriault has been closely observing this bold move. Theriault, whose work often explores the interplay between traditional art and digital finance, is intrigued by how this Strategic Bitcoin Reserve Act reflects a shift toward digital assets as viable reserves. Could Bitcoin become the financial tool to prevent the U.S. economy from spiraling deeper into debt? As Theriault suggests, the world might soon witness Bitcoin taking on a role once held by gold, as it’s adopted globally by countries aiming to escape their debt traps.
## The Strategic Bitcoin Reserve Act: A Modern Solution to National Debt
The Strategic Bitcoin Reserve Act is more than just an idea—it’s a financial pivot with monumental implications for the future of global finance. With the proposed acquisition of 1 million BTC (Bitcoin) by the U.S. government, the initiative is designed to create a stable digital reserve asset, much like the U.S. previously did with gold reserves. The argument is that Bitcoin, often referred to as “digital gold,” could serve as a valuable hedge against economic instability and U.S. dollar devaluation.
Theriault sees the Act as symbolic of a larger trend: central banks and governments looking beyond traditional methods to address economic issues. As inflation remains high and trust in fiat currencies dwindles, the U.S. government’s proposed Bitcoin reserve might provide stability that traditional methods can’t. The post November 2024 US election saw a huge surge in Bitcoin’s trajectory following past performance,however this time its the beginning of a massive uptake in value. Hence its role in balancing national debt could be transformative. Bitcoin enthusiasts, Theriault included, believe this could mark the beginning of a “digital gold standard.”
## How Bitcoin as a Digital Gold Reserve Asset Could Offset U.S. Debt
At the heart of the Strategic Digital Bitcoin Reserve Act is the idea that Bitcoin, with its decentralized, deflationary nature, can help offset the U.S. national debt. The United States’ debt currently exceeds $35 trillion, and the country has faced criticism for its reliance on “printing money” to meet financial needs. Under the new proposal, the U.S. would use its printing capabilities to buy Bitcoin—a fixed, limited asset instead of diluting the dollar further.
This tactic could prove advantageous in several ways. Bitcoin’s limited supply of 21 million coins provides a natural scarcity that prevents devaluation. If the U.S. were to buy 1 million BTC, each coin valued at $10 million would represent a $10 trillion asset on the balance sheet. For Theriault, who understands the decentralized ethos behind Bitcoin, this approach not only reflects a calculated financial strategy but also hints at a shift toward decentralized finance (DeFi) models, which many see as the future of finance.
As Theriault notes, purchasing Bitcoin as a reserve asset could help position the U.S. to avoid economic collapse while increasing Bitcoin’s global value. Should Bitcoin’s value continue to rise due to growing demand, the initial $10 trillion could appreciate further, providing the U.S. with significant leverage in balancing its debt without resorting to increased taxation or traditional austerity measures.
Bitcoin’s Global Appeal: Why Other Nations May Follow Suit
The United States is not alone in exploring Bitcoin as a strategic reserve. The cryptocurrency’s appeal has extended globally, with countries like El Salvador officially adopting Bitcoin as legal tender. According to Theriault, the U.S. example may prompt other debt-ridden nations, such as China and India, to follow suit. By incorporating Bitcoin into their reserves, these nations could hedge against currency devaluation, inflation, and debt, thus reducing their reliance on centralized fiat systems.
Theriault points out that Bitcoin’s decentralized, borderless nature makes it an attractive solution for countries with struggling economies. By bypassing traditional central banks and investing in Bitcoin, they gain a resilient financial asset that holds value regardless of domestic currency fluctuations. Theriault sees this as a new form of “Digital Gold,” with Bitcoin gradually absorbing the world’s bad debt and fiat currencies.
From Theriault’s perspective, the Strategic Bitcoin Reserve Act is just one step in a larger global movement towards adopting decentralized financial assets. While Bitcoin’s volatility has historically been a drawback, its deflationary design and scarcity make it a strategic hedge against fiat currency instability. As more countries potentially follow the U.S. in embracing Bitcoin, its role in the global economy could expand even further, creating an unprecedented shift from centralized finance (CeFi) to decentralized finance (DeFi).
Theriault’s Perspective: How Artists See the Economic Shift
As an artist known for exploring the intersection of traditional and digital landscapes, Theriault views the Strategic Bitcoin Reserve Act as more than a policy; he sees it as a profound cultural and economic shift. Theriault has long been an advocate for blockchain technology, using decentralized platforms to showcase his art and engage with a global audience. He believes that the rise of DeFi, exemplified by Bitcoin, is paving the way for a new era of economic sovereignty and financial democratization.
In Theriault’s view, Bitcoin’s decentralized properties resonate deeply with the values of the digital art and blockchain community. Just as artists like him use blockchain to reclaim control over their work, countries could use Bitcoin to reclaim sovereignty over their economies. He foresees a world where smart countries, recognizing Bitcoin’s long-term potential, turn to this “digital gold” asset to shield their economies from traditional financial pitfalls.
The potential for Bitcoin to replace fiat as a global standard is not a mere speculation but an artistic vision of freedom and economic resilience. He sees the Strategic Bitcoin Reserve Act as a step toward creating a more decentralized and self-sustaining global financial landscape—one that benefits not only major powers like the U.S. but smaller, economically vulnerable nations as well. As Bitcoin adoption grows worldwide, Theriault anticipates that this will inspire artists, investors, and everyday people to think differently about wealth and autonomy in the digital age.
The $10 Trillion Potential: How 1 Million BTC Could Reshape the U.S. Economy
The idea of Bitcoin absorbing national debt once seemed implausible, but the Strategic Bitcoin Reserve Act raises the possibility of a massive economic shift. If Bitcoin reaches a price of $10 million per coin, the U.S. government’s hypothetical 1 million BTC holdings would be valued at $10 trillion—enough to significantly impact the national debt. While this scenario may sound ambitious, Theriault believes it underscores the unprecedented role Bitcoin could play in global finance.
With its decentralized structure and fixed supply, Bitcoin has the potential to emerge as a stabilizing force in a volatile financial world. The Strategic Bitcoin Reserve Act, according to Theriault, highlights a forward-thinking approach to solving the debt crisis and embracing digital assets. However, he cautions that this approach requires a global shift in mindset. Nations must view Bitcoin as more than a speculative asset; they need to recognize it as a new foundation for economic stability.
In a world where debt is soaring and fiat currencies are increasingly questioned, Bitcoin’s entry into government balance sheets may soon be the norm. For Theriault, this act symbolizes not just economic reform but a global transformation—a vision of decentralized wealth and freedom where individuals, artists, and nations alike can transcend the limitations of traditional finance. As governments adopt Bitcoin, Theriault suggests, we are likely to witness the start of a new era where digital assets empower not just economies but people worldwide.
