Analysts at one of crypto’s biggest asset managers believe that the US is going to establish a form of strategic Bitcoin reserve (BTC).
Matthew Sigel is the director of VanEck’s digital asset research. In a recent interview, he told Natalie Brunell the reserve may not have been created by Congressional legislation.
I think it will be more like an executive order that attempts to reclassify roughly 200,000 Bitcoins that the US Government already has, that it has seized as a result of crimes and other incidents, to just call it a Bitcoin Reserve and promise not to sell.
We predict that next year, either a national Bitcoin Reserve will be established, as I have just explained, or one or several states will create their own. I believe the likely candidates are Pennsylvania, Florida, or Texas.”
Cynthia Lummis, a Wyoming Republican senator who is a Republican, announced in July that she will introduce a bill for the establishment of a BTC Reserve as a way to secure the US Dollar amid an unprecedented national debt. This legislation will force the US government accumulate 1 million BTC or 5% BTC total in 5 years.
On his campaign trail, Donald Trump said that the US will stop selling the seized Bitcoins on the market. Instead they would hold them as a strategic investment.
A member of Texas’ House of Representatives introduced new legislation earlier this month that would allow the Lone Star State establish a strategic Bitcoin Reserve within its Treasury.
Polymarket, a decentralized betting site, currently rates the odds at 41% that Trump creates a Bitcoin Reserve in his first hundred days as president.
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As new information becomes available, this post VanEck predicts establishment of US Strategic Bitcoin Reserve next year without aid of Congress. Here’s how may change.
