🚀 The U.S. government is considering expanding its Bitcoin reserve policy! The U.S. government may be considering expanding its Bitcoin reserve policy, according to Alex Thorn, director of research at Galaxy Digital 📊. Although the government is not expected to buy more Bitcoin in 2025, it will focus on managing and protecting its existing holdings, which amount to approximately 183,850 BTC, valued at 17.382 billion dollars 📈. Senator Cynthia Lummis introduced the Bitcoin 2024 Act, which proposes to incorporate Bitcoin as a reserve asset in the U.S. Treasury, which could mark a shift in the country's cryptocurrency strategy 🤝.
Event Analysis
Implications for the U.S. government: Expanding the Bitcoin reserve policy could increase the adoption and legitimacy of the cryptocurrency.
Implications for institutional adoption: The possible integration of Bitcoin into the balance sheets of Nasdaq 100 companies and sovereign wealth funds of nation-states could boost cryptocurrency adoption.
Implications for competition among nation-states: The adoption of Bitcoin acquisition strategies by nation-states not aligned with the U.S. could increase competition and cryptocurrency adoption.
