U.S. holds 183,850 BTC worth $17.36B, focusing on reserves over purchases in 2025.
The proposed Bitcoin Act aims for the U.S. to buy 200K BTC annually, totaling 1M BTC in 5 years.
Global Bitcoin race intensifies; 5 nations and Nasdaq 100 firms may add BTC reserves.
According to Galaxy Digital Research’s report, the United States government will secure its current holdings of Bitcoins and refrain from buying more in 2025. According to Spot on Chain, the US government possesses about 183,850 BTC across different addresses worth $17.36 billion. Further talks over establishing a Bitcoin reserve policy are likely to persist as it marks the shifts in the use of cryptocurrencies in national economic plans.
Bitcoin Reserve Policy Sparks Debate
The head of research at Galaxy Digital, Alex Thorn, said that the US authorities are to assess a Bitcoin reserve policy but do not plan to purchase Bitcoins soon. The focus will remain on maintaining the current balance of bitcoins while examining the possibilities of long-term use of cryptocurrencies in a treasury.
Wyoming Senator Cynthia Lummis’ proposed Bitcoin Act 2024 can be the potential regulation in the United States. The proposed law would enable the government to acquire up to 200,000 BTC per year for five years to establish a one million BTC reserve for at least twenty years. The presented proposal emphasizes the need to consider Bitcoin as a strategic asset while it remains under legislative review.
Speaking at the Bitcoin MENA conference in Abu Dhabi on Dec. 9, Changpeng “CZ” Zhao, the former Binance CEO, proposed that small countries will adopt Bitcoin reserves before huge economies. He also believed it might be gradual.
Bitcoin’s Role in Global Finance
Other countries are also observing developments. Japan’s Prime Minister Shigeru Ishiba cited uncertainties in adopting a Bitcoin reserve.
Additionally, Galaxy Digital predicts that five companies on the Nasdaq 100 index and five nation-states could add Bitcoin to their reserves by 2025. This trend may propel competition for Bitcoin from nations with enormous sovereign wealth funds or countries aspiring to counter the U.S. economic dominance.
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