Polkadot Proposal Seeks Bitcoin Reserve Despite Market Timing Concerns
Summary
A Polkadot governance proposal aims to convert 500,000 DOT tokens into Threshold Bitcoin (tBTC) for diversification and long-term stability. Reactions are mixed; some view Bitcoin as a hedge against market uncertainty, while others question the timing due to high BTC prices. The proposal suggests a dollar-cost averaging strategy over one year to create a Bitcoin strategic reserve. Proponents argue this approach is about risk management rather than market timing. Critics express skepticism about the proposal's potential value and suggest broader community involvement before a decision. The community will vote on the proposal, which follows the recent approval of a Polkadot-branded non-custodial payment card.
