An ambitious strategy is taking shape, aiming to position Bitcoin as a major asset in the United States. The idea involves a significant Bitcoin acquisition—around 1 million units, roughly 5% of Bitcoin’s capped supply of 21 million. This acquisition would likely create strong upward price pressure on Bitcoin.
This initiative is gaining attention especially after the recent presidential election. Donald Trump, re-elected as the 47th President of the United States, received substantial support from cryptocurrency enthusiasts due to his pro-crypto stance. Trump has signaled potential changes in crypto regulation, including plans to dismiss regulatory heads and turn the U.S. into a leading hub for digital assets.
One proposal generating attention is from Senator Cynthia Lummis, who outlined a strategy this past July that would involve significant federal Bitcoin purchases. Her plan, documented in detail, includes creating a decentralized, secure Bitcoin vault network under the Treasury, with strict measures to protect these digital assets both physically and digitally.
Lummis's proposal involves a phased purchase of 1 million Bitcoins, totaling about 5% of the total Bitcoin supply—an amount roughly on par with U.S. gold reserves. Trump, meanwhile, has proposed retaining seized Bitcoin assets rather than liquidating them. Currently, U.S. holdings include 208,109 Bitcoins, though approximately 94,643 are set to be returned to Bitfinex, reducing total reserves.
Following the election, Lummis reiterated her commitment to building a strategic Bitcoin reserve, stating, “LET’S BUILD A STRATEGIC BITCOIN RESERVE.”
Could the US Turn Bitcoin into a Prime Asset?
Currently, the U.S. holds 8,133 tons of gold, valued around $522 billion, making it the largest holder of gold reserves in the world. Bitcoin, often referred to as “digital gold” due to its limited supply, fits well with the U.S. tradition of holding scarce assets, aligning with Lummis’s vision.
In addition to Trump, the recent elections brought in 262 pro-crypto representatives in Congress, which may help advance these crypto-friendly policies. This support could streamline the process of officially integrating Bitcoin into the national reserve strategy.
What Would This Mean for Bitcoin?
If the U.S. government acquires 1 million Bitcoins, this action would be notable not only for the immediate buying pressure but also for its symbolic impact. With an estimated $74.7 billion required to purchase these coins at current market prices, the influence of such a move would extend globally. Just the mere announcement of such a policy would likely impact investor sentiment and could drive governments and institutions worldwide to reconsider Bitcoin’s role as a potential reserve asset.
“Such a move would position Bitcoin similarly to gold, granting it official status within national reserves and marking a historic milestone for its legitimacy,” noted CoinShares in a recent statement.
The potential for Bitcoin’s institutional and governmental adoption to accelerate with this plan is high, hinting that such recognition could drive value to unprecedented levels. The real question now is how this strategic interest might reshape Bitcoin’s worth if major global economies begin holding it as part of their reserves.
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