Home » Here’s When the U.S. Might Create a Bitcoin Reserve, According to VanEck

Here’s When the U.S. Might Create a Bitcoin Reserve, According to VanEck

18.12.2024 20:00 2 min. read Alexander Zdravkov
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Here’s When the U.S. Might Create a Bitcoin Reserve, According to VanEck

Matthew Sigel, head of digital assets research at VanEck, believes that the U.S. may create a strategic Bitcoin (BTC) reserve sooner than expected.

He expects this to happen in the coming year, though he anticipates it will likely be established through executive action rather than legislation.

Sigel suggests that the U.S. government could repurpose the roughly 200,000 BTC it currently holds, obtained through asset seizures, by designating it as a Bitcoin reserve. This would involve pledging not to sell these holdings.

Sigel’s forecast includes the possibility that either the federal government or individual states, like Pennsylvania, Florida, or Texas, could initiate the reserve. He points to the potential for state-level action, with states such as Texas already making moves in this direction.

Earlier this year, Senator Cynthia Lummis of Wyoming proposed a bill to create a national Bitcoin reserve, aiming to acquire one million BTC over five years to help bolster the U.S. dollar amid rising national debt.

On the campaign trail, President-elect Donald Trump also endorsed the idea of halting the sale of seized Bitcoin and instead holding the digital asset as part of a strategic reserve. Furthermore, a Texas lawmaker recently introduced legislation that would allow the state to establish its own Bitcoin reserve within its treasury.

According to Polymarket, there is a 41% chance that Trump will create a national Bitcoin reserve within his first 100 days in office.

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.

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