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The main argument for a Strategic BItcoin Reserve seems to be that Bitcoin holders worry about an impending shortage of greater fools and need the US government to act as the greatest fool of last resort.

Basically a Ponzi scheme in other words.

Apple Google Microsoft Amazon and Saudi Aramco are the only business entities Bitcoin market cap hasn't exceeded, yet. I won't argue it isn't a Ponzi scheme, because I don't see any gain in winning or losing that argument. Dismissing it doesn't make it go away tho. Seems worth understanding.

It may be a very strong Ponzi scheme, but that doesn't mean it won't eventually collapse.