Bitcoin in U.S. Reserves? Not a Chance, Says Kevin O’Leary

As countries around the world move faster to integrate digital assets into their financial systems, the United States is keeping Bitcoin at arm’s length—especially when it comes to the idea of holding it in national reserves.

Investor and television personality Kevin O’Leary made it clear where he stands: the U.S. adopting a strategic Bitcoin reserve simply isn’t going to happen. Dismissing the concept outright, O’Leary criticized proponents like Michael Saylor, suggesting that their advocacy is motivated more by self-interest than sound policy. “He’s just promoting his own position,” O’Leary said bluntly, referring to Saylor and his company’s massive Bitcoin exposure.

While he’s skeptical of Bitcoin’s role in U.S. reserves, O’Leary is more optimistic about stablecoins. He believes regulatory clarity on dollar-backed digital assets will eventually lower cross-border transaction costs and drive adoption of a digital dollar—something he views as more viable in the near term.

Efforts to institutionalize Bitcoin in the U.S. have faced mixed reactions. A bill introduced by Senator Cynthia Lummis proposing a federal Bitcoin reserve has gained limited traction. Some states have shown interest, but others—like Oklahoma—have firmly rejected the idea. The broader debate remains unsettled. According to a University of Chicago survey, economists remain split, citing concerns over Bitcoin’s price volatility and its uncertain place within established monetary systems.

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Still, some voices are pushing back against O’Leary’s cynicism. SkyBridge Capital’s Anthony Scaramucci supports the proposed legislation, saying it could strengthen the U.S. economy. He also stressed the importance of bipartisan cooperation, warning that a one-party push could unravel quickly under a future political shift. Venture capitalist David Sacks has echoed those concerns, urging policymakers to work across the aisle if the idea is to survive long term.

Michael Saylor, meanwhile, isn’t just talking—he’s buying. His company, Strategy, has now amassed more than 555,000 BTC, recently adding over $180 million to its holdings. Saylor remains one of the most vocal advocates for making Bitcoin part of national financial infrastructure.

Globally, the debate continues. While the European Central Bank remains firmly against holding Bitcoin in its reserves, El Salvador has taken the opposite route—fully integrating BTC into its national treasury despite warnings from the IMF.

For now, Bitcoin remains a polarizing idea in official finance circles. Public interest is growing, but whether the U.S. will ever embrace it at the highest level is still far from certain.

Alexander Stefanov