Debates surrounding the establishment of a strategic bitcoin reserve in the US are heating up in light of global shifts in the cryptocurrency sphere. Experts express hope for the formation of the reserve by the end of 2023 but also point to potential risks.
Strategy Development for Reserve Creation
Alex Thorn, head of research at Galaxy Digital, stated there is a strong chance the United States might announce the establishment of a Strategic Bitcoin Reserve (SBR) by year-end. Although President Trump signed an executive order in March, a formal strategy has yet to be finalized. In Thorn's post on X, he said: "I still think there’s a strong chance the US government will announce this year that it has formed the strategic Bitcoin reserve and is formally holding BTC as a strategic asset. Market seems to be completely underpricing the likelihood of such an announcement."
Industry Concerns
Despite the hopes, some market participants remain skeptical. Dave Weisberger, former chair of CoinRoutes, opined that the US bitcoin reserve is more likely to materialize in 2026. Amid uncertainty surrounding the project's initiation, many in the industry believe time is needed to gather the necessary assets.
International Competition in Bitcoin Accumulation
Some experts warn of the risks associated with delays in bitcoin accumulation, arguing that the US could fall behind other nations. Jan3 founder Samson Mow emphasizes that if the US does not start acquiring bitcoins this year, it risks being outpaced in the international race. Meanwhile, other countries, such as Kyrgyzstan, are already advancing legislation to establish cryptocurrency reserves.
Amid growing global competition in the cryptocurrency space, the creation of a strategic bitcoin reserve in the US becomes an important issue. Despite existing hopes, many experts continue to underline the necessity for more active measures to avoid missing advantages in this field.
