Cryptocurrency
US Government Unlikely to Establish Bitcoin Strategic Reserve in Near Future
Saturday. July 20 at 10:00 PM
1 min. readAri Paul, the chief information officer at BlockTower Capital, believes that the United States government creating a Bitcoin strategic reserve could positively impact its price, but he deems it improbable to happen within the next four years. Despite the speculation, Paul doubts the feasibility of such a move, emphasizing the challenges Bitcoin faces in reclaiming the $65,000 price level. While there may be discussions about the government holding Bitcoin without intending to sell, Paul questions the actual establishment of a strategic reserve. The concept of a strategic reserve, typically reserved for emergencies, is not new to governments, with the US maintaining emergency crude oil supplies. Speculation surrounding former President Trump potentially designating Bitcoin as a strategic reserve has sparked interest, with some industry figures expressing belief in the inevitability of such a move. This comes amidst growing interest in Bitcoin as a global reserve asset due to geopolitical uncertainties and inflationary pressures.