U.S. Government Focuses on Bitcoin Asset Management
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The U.S. government has no intentions to purchase Bitcoin in the upcoming year of 2025. According to insights from Galaxy Digital’s research team, the priority will be to manage its existing Bitcoin holdings and establish reserve policies. Ongoing discussions are centered around these Bitcoin reserve strategies. How Will Bitcoin Assets Be Managed? Alex Thorn, head of Galaxy Research, emphasized that the U.S. government will aim to manage its current collection of 183,850 BTC. He stated, “The government will avoid purchasing Bitcoin but will continue to build reserves with its existing assets.” This approach is part of a larger plan to develop a comprehensive Bitcoin reserve policy. What Are the Implications of Bitcoin Policy? The proposed “Bitcoin Act 2024,” introduced by Wyoming Senator Cynthia Lummis, seeks to allow the Treasury to acquire 200,000 BTC each year. If this legislation is passed, it might pave the way for the U.S. to maintain a total reserve of 1 million BTC over the next two decades. However, concerns about the global implications of Bitcoin reserves have been raised by CryptoQuant’s CEO, Ki Young Ju, who warns that adopting a Bitcoin standard could undermine the U.S. dollar’s global dominance. The U.S. government prioritizes managing current Bitcoin assets. Ongoing discussions about Bitcoin reserve strategies hold significance. The potential legislation could significantly increase Bitcoin reserves. Global economic stability may be influenced by U.S. Bitcoin policies. The strategy surrounding Bitcoin management not only affects U.S. cryptocurrency markets but could also reshape international economic dynamics. Other nations may look to the U.S. approach in evaluating Bitcoin as a strategic asset in their financial frameworks. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/u-s-government-focuses-on-bitcoin-asset-management
Filed under: News - @ December 30, 2024 7:24 am