Reports from the U.S. Treasury or credible financial news sources

Trump's U.S. Considers Strategic Bitcoin Reserve with Potential 1 Million BTC Acquisition, $21 Billion Investment

Nov 11, 2024, 02:30 PM

The United States is considering the creation of a strategic Bitcoin reserve. The Bitcoin Act proposal suggests that the U.S. government could acquire 5% of the total Bitcoin supply, amounting to 1 million bitcoins. This move is seen as a strategic effort to position the U.S. favorably in the global financial landscape. The proposal has garnered support from various stakeholders, including Barbara Goodstein of R360, who recommends buying Bitcoin directly. The U.S. currently holds 232K BTC, and Trump could increase this to over 1 million. Michael Saylor is also reportedly planning to purchase an additional $21 billion worth of Bitcoin. The initiative is compared to the space race, with countries potentially competing to amass Bitcoin reserves, termed the 'Digital Moon landing'. The concept of a strategic Bitcoin reserve is suggested to be a bipartisan idea.