Casa’s Praetorian vaults offer nations Bitcoin security

The development aligns with increasing global interest in Bitcoin as a strategic reserve.

Bitcoin has reached a new all-time high above $124,000 USD, while Ethereum is less than two per cent away from breaking its own record price.

Casa, a crypto custody company, has unveiled a new self-custody option called Praetorian, aimed at helping sovereign nations securely manage their Bitcoin reserves. The service uses multi-signature vaults spread across various jurisdictions, ensuring high levels of security and autonomy. Casa’s CEO, Nick Neuman, stated that self-custody gives nations complete control over their reserves, offering peace of mind even if the company ceases to operate.

The idea of Bitcoin as a strategic reserve is gaining traction. Investor Anthony Pompliano highlighted the global race for Bitcoin, noting how its scarcity could drive nations to secure their share. Recently, US Senator Cynthia Lummis proposed converting some gold holdings into Bitcoin, while Vancouver Mayor Ken Sim suggested Bitcoin could serve as a treasury asset to protect against inflation.

At the Bitcoin MENA 2024 conference, former Binance CEO Changpeng Zhao predicted that China would establish a Bitcoin reserve if the US moves forward with such plans under the incoming administration.