The United States may establish a strategic Bitcoin reserve by the end of this year, which could affect the dynamics of the cryptocurrency market.
US Strategic Initiatives on Bitcoin
According to research by Alex Thorn, head of research at Galaxy Digital, the US may make an announcement regarding the establishment of a strategic Bitcoin reserve. High-level discussions are ongoing about the legislative actions needed for this, including an expected executive order and a pending Congressional bill.
Expert Opinions on the Reserve
Alex Thorn noted that there is a high likelihood that the US government would form the strategic Bitcoin reserve by the end of this year. 'There is a high likelihood that the United States government will form the highly anticipated Strategic Bitcoin Reserve by the end of this year,' he stated. Concerns were also voiced by Samson Mow, founder of Jan3, regarding the risks the US faces if it does not begin acquiring Bitcoin this year.
Possible Market Consequences
The establishment of reserves could lead to potential multi-billion-dollar accumulation of Bitcoins to maintain parity with major holders. This may impact Bitcoin's prices and volatility, while also potentially affecting other assets indirectly. Expected government actions could result in price pressure on Bitcoin and shift the overall asset management direction.
The discussions and initiatives surrounding the creation of a strategic Bitcoin reserve in the US highlight the growing interest in cryptocurrencies and their role in the economy.
