Galaxy Digital’s Head of Research Alex Thorn has revised his outlook on potential United States government Bitcoin purchases, suggesting increased probability of federal BTC acquisition in 2025. This development comes amid growing institutional interest in cryptocurrency and recent policy shifts from the Trump administration.
Key Points on Potential US Government Bitcoin Purchase
- Galaxy Digital research head sees increasing likelihood of US government BTC purchase
- Trump administration’s Strategic Bitcoin Reserve (SBR) executive order provides framework
- Treasury Secretary Bessent signals openness to Bitcoin as store of value
- Government exploring budget-neutral acquisition strategies
In a notable shift from previous predictions, Thorn stated via X that “It does seem increasingly likely that the USA is making progress on the logistics and mechanics of the strategic reserve.” This assessment represents a significant change from Galaxy’s December 2024 forecast, which had suggested the US would hold but not purchase Bitcoin in 2025.
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Strategic Bitcoin Reserve Framework Takes Shape
The potential government purchase aligns with recent market developments and policy shifts under the Trump administration. The March 6 executive order establishing the US Strategic Bitcoin Reserve created a formal structure for managing government-held Bitcoin, including assets obtained through forfeitures and seizures.
Treasury Secretary’s Pivotal Comments
Treasury Secretary Scott Bessent’s recent comments to Tucker Carlson have particularly caught market attention. When questioned about global gold movements, Bessent notably pivoted to discussing Bitcoin’s emerging role as a store of value, suggesting high-level government recognition of cryptocurrency’s strategic importance.
Acquisition Strategy and Market Impact
Robert “Bo” Hines, Executive Director of the Presidential Council of Advisers for Digital Assets, has outlined potential acquisition strategies, including leveraging gold certificates valued at $42.22 per troy ounce – significantly below current market rates. This approach could provide a budget-neutral path to Bitcoin acquisition.
FAQ Section
When might the US government make its first Bitcoin purchase?
According to Galaxy Digital’s analysis, the first purchase could occur in 2025, though specific timing remains uncertain.
How much Bitcoin might the US government acquire?
While exact figures haven’t been specified, government officials have indicated a desire to acquire “as much as we can get” while maintaining budget neutrality.
What impact could this have on Bitcoin’s price?
Government purchases could significantly impact market dynamics, potentially creating new price support levels and increasing institutional confidence.
At press time, Bitcoin trades at $77,570, reflecting market anticipation of potential government involvement in the cryptocurrency space.