Referring to Bitcoin’s "decentralized and limited-supply nature,” the Libertarian Party states that: "Bitcoin’s fixed supply of 21 million coins ensures that its scarcity protects against inflation […] This robustness enhances its appeal as a reliable store of value and positions it as an ideal component of Australia’s financial strategy.” Related Reading: Bitcoin Plays Chicken With Central Banks As Dollar Falls, Says Expert The proposal suggests that such a reserve would hedge against inflation, diversify national assets, and "strengthen the nation’s financial resilience.” According to the document, funding would derive from several possible sources, including allocations from Australia’s Future Fund, budget surpluses, and proceeds from government asset sales.
It calls for the removal of Capital Gains Tax (CGT) on everyday Bitcoin transactions and outlines a vision in which Australia "positions itself at the forefront of global innovation in financial services.” To that end, the document also proposes: "Treating Bitcoin as a legitimate and viable alternative to traditional financial systems, promoting financial autonomy and inclusivity.” Related Reading: This Bitcoin Signal Aligns With Price Tops, CryptoQuant Analyst Reveals Such moves, the party believes, will encourage further Bitcoin adoption by eliminating "punitive taxation measures” that hamper everyday transactions.
The Libertarian Party of Australia has formally unveiled its new Bitcoin Policy Whitepaper, with a centerpiece proposal advocating for the establishment of an Australian Strategic Bitcoin Reserve (SBR).
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