A proposal to convert 500,000 DOT tokens into Threshold Bitcoin (tBTC) for asset diversification and long-term stability has sparked mixed reactions among community members.
Some members believe Bitcoin can serve as an effective tool to hedge against market uncertainty, while others are cautious about implementing the proposal during a time when Bitcoin prices are at an all-time high.
In early June, a Polkadot community member using the pseudonym hippiestank proposed to establish an initial Bitcoin strategic reserve within a year. If the community reaches a consensus, the proposal would sell 500,000 DOT tokens and reinvest them into Bitcoin using a dollar-cost averaging (DCA) investment strategy.
Threshold BTC (tBTC), as a non-custodial solution, utilizes threshold elliptic curve digital signature algorithm (ECDSA) wallet technology, allowing Polkadot to maintain its characteristics of decentralization, liquidity, and transparency.
In forum discussions, while several members acknowledged that DOT's price performance may not be strong in 2025, they pointed out that establishing a Bitcoin reserve could help mitigate the current trend of continuous price decline.
Some members questioned the timing of the proposal, considering that DOT is at one of its historical lows while Bitcoin has firmly established itself above the $100,000 historical high. In response, the proposers argued, "I believe the argument that 'DOT is at a historical low while Bitcoin is at a historical high' actually misunderstands the essence of the issue. This proposal is primarily about risk management and operational continuity, rather than market timing or speculative behavior."
The proposers further warned that if members continue to wait for the perfect timing, Polkadot will never achieve asset diversification. Additionally, the community has shown a willingness to diversify assets across different categories rather than relying solely on Bitcoin.
Skeptical members have requested further clarification on the details.
"I really don't see how we can implement this plan and truly provide short-term or long-term value," one community member stated. "Even if we achieve remarkable returns, the additional downward pressure from other DCA strategies we are already facing, combined with a lack of market interest, is likely to cause more harm than good."
This member also urged the proposers to broaden the discussion on the X platform before making a final decision:
Although discussions are ongoing, the Polkadot community will ultimately need to vote on whether to establish a diversified strategic reserve.
Recently, the Polkadot community has approved the launch of a Polkadot-branded non-custodial payment card, which can be used to access various services from Visa.
Related: The Wall Street Journal: Walmart and Amazon Consider Issuing Their Own Stablecoins
Original article: “Polkadot Community Divided on Selling 500,000 DOT for Bitcoin (BTC) Reserve Proposal”
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