US government will not buy Bitcoin in 2025 — Galaxy Research
Galaxy Research expects US government departments to make “some movement” in 2025 to explore an “expanded Bitcoin reserve policy,” but no Bitcoin will be purchased.
Galaxy Digital’s research division predicts that the United States government will not buy any Bitcoin in 2025 but will safeguard its existing supply.
“The US government will not purchase Bitcoin in 2025,” Galaxy Research head of research Alex Thorn said in a Dec. 27 report. Thorn said that instead, the US government will create a stockpile using Bitcoin BTC
$94,549, which it already holds, while discussions on a Bitcoin reserve policy will continue.
US government will explore Bitcoin reserve policy
“There will be some movement within the departments and agencies to examine an expanded Bitcoin reserve policy,” Thorn said.
According to Spot on Chain, the US government holds 183,850 BTC worth around $17.36 billion across various known addresses.
Wyoming Senator Cynthia Lummis’ proposed Bitcoin Act 2024, if passed, would enable the US government to insert Bitcoin into its treasury as a reserve asset by buying 200,000 BTC annually over five years, accumulating 1 million Bitcoin, which it would hold for at least 20 years.
Another Galaxy analyst, “JW,” said there is a possibility that up to five Nasdaq 100 companies and five nation states may add Bitcoin to their balance sheets or sovereign wealth funds.
A stronger US stance on Bitcoin adoption could trigger a race to mine or acquire Bitcoin among nation states, according to JW:
“Competition among nation states, particularly unaligned nations, those with large sovereign wealth funds, or even those adversarial to the United States, will drive the adoption of strategies to mine or otherwise acquire Bitcoin.”
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Other countries may wait to see US move on Bitcoin
On Dec. 26, Japan’s Prime Minister Shigeru Ishiba said he does not have enough understanding of “movements” by countries like the US and others regarding adopting Bitcoin reserves.
“It is difficult for the government to express its views,” Ishiba said.
Meanwhile, former Binance CEO Changpeng “CZ” Zhao said China would be one of the countries that adopt a strategic Bitcoin reserve.
At the Bitcoin MENA conference in Abu Dhabi on Dec. 9, Zhao said he believed “smaller countries” would likely be the first to adopt a Bitcoin reserve, but the change could happen slowly.
