The US government will not purchase Bitcoin in 2025 — Galaxy Research
The Galaxy Digital research division predicts that the U.S. government will not purchase any Bitcoin in 2025, but will protect existing supply.
“The U.S. government will not purchase Bitcoin in 2025,” Galaxy Research research director Alex Thorn said in a December 27 report. Thorn said the U.S. government will instead use Bitcoin (BTC) it already holds to create reserves, and discussions on Bitcoin reserve policy will continue.
US government will investigate Bitcoin reserve policy
“There will be moves within ministries and agencies to review policies to expand Bitcoin holdings,” Thorn said.
According to Spot on Chain, the U.S. government holds 183,850 BTC worth approximately $17.36 billion across various known addresses.
The US government holds approximately 183.85K Bitcoins in 36 known addresses. source: spot on chain
If the Bitcoin Act of 2024, proposed by Wyoming Senator Cynthia Lummis, passes, the U.S. government would purchase 200,000 BTC per year over five years, insert Bitcoin into the Treasury as a reserve asset and accumulate 1 million Bitcoin. and will be held for at least 20 years. years.
Another Galaxy analyst ‘JW’ said that up to five Nasdaq 100 companies and five countries are likely to add Bitcoin to their balance sheets or sovereign wealth funds.
According to JW, the United States’ strong stance on Bitcoin adoption could spark competition between countries to mine or acquire Bitcoin.
“Competition between countries, especially non-aligned countries, countries with large sovereign wealth funds, and even countries hostile to the United States, will lead to the adoption of strategies to mine or acquire Bitcoin.”
Other countries may wait for US Bitcoin move
On December 26, Japanese Prime Minister Shigeru Ishiba said he did not fully understand the “movement” by countries such as the United States regarding the adoption of Bitcoin reserves.
“It is difficult for the government to express its views,” Ishiba said.
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Meanwhile, former Binance CEO Changpeng “CZ” Zhao said that China will be one of the countries to adopt strategic Bitcoin reserves.
Speaking at the Bitcoin MENA conference in Abu Dhabi on December 9, Zhao said he believed “smaller countries” would be the first to adopt Bitcoin reserves, but said change could happen slowly.
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