**[OKX Executive Warns Governments Against Establishing Bitcoin Reserves, Citing Potential Market and Macroeconomic Risks]** OKX Global Managing Partner for Government and Investor Relations, Haider Rafique, stated that governments establishing strategic Bitcoin reserves could have negative impacts on both Bitcoin and the US dollar. He pointed out that large-scale government holdings of Bitcoin might manipulate prices through market sell-offs, thereby undermining Bitcoin's core characteristics of decentralization and neutrality. Citing the example of the German government selling 50,000 Bitcoins in 2024, which led to prices remaining below $60,000, he emphasized that the uncertainty of government policies could introduce liquidation risks. Rafique further noted that while Bitcoin proponents believe national reserves could help it become a global reserve currency, such a move might weaken confidence in the US dollar and drive investors toward safe-haven assets like gold or the Swiss franc. This, in turn, could lead to sell-offs of risk assets and significant market downturns. He warned that national Bitcoin reserves could pose systemic risks to the global financial system.