Pretty much. People say it's meant to replace laws and regulations, but if it's successful then it won't.
The US has a large bitcoin strategic reserve. Banks offer bitcoin accounts (in some countries). You can get a loan backed by your bitcoin.
We're not yet at the point where you can get a credit card and 60 year home loan denominated in bitcoin, with the fed writing bonds or even issuing fiat to stabilise rates, but if it was more popular then is there any technical reason we couldn't get there?
Trump did it, so frankly it's probably just a brain fart.
However, the US having a strategic reserve of a currency makes it a lot like other currencies. The next logical step is that banks can use it (already in the works - also Trump). If you can get a bank account it bitcoin, the next logical step is towards a fractional reserve system (loans, banks effectively "printing money"). The strategic reserve can cover a run on banks - think interbank lending, bailouts. Then the fed can offer bonds and IOUs (fiat).
All the things q lot of bitcoin advocates say bitcoin should stop, but you can't stop the government writing an IOU and demanding everyone treat it as currency.
The US has a large bitcoin strategic reserve. Banks offer bitcoin accounts (in some countries). You can get a loan backed by your bitcoin.
We're not yet at the point where you can get a credit card and 60 year home loan denominated in bitcoin, with the fed writing bonds or even issuing fiat to stabilise rates, but if it was more popular then is there any technical reason we couldn't get there?