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Galaxy Research Predicts US will not Buy Bitcoin in 2025
Galaxy Digital Research has recently released a report predicting that the United States government will not purchase any additional Bitcoins in 2025. The research firm suggests that instead of buying more, the U.S. authorities will focus on maintaining its current balance of bitcoins while exploring the long-term potential use of cryptocurrencies within a treasury.
The Galaxy Research report highlights that the focus remains on securing existing holdings and examining possibilities for cryptocurrency usage in a treasury setting. Notably, there has been no indication from the U.S. government to purchase more Bitcoins anytime soon.
It’s worth noting that Wyoming Senator Cynthia Lummis’ proposed Bitcoin Act 2024 may have implications for this stance. The proposed law aims to permit the government to acquire up to 200,000 BTC per year for five years, thereby establishing a one million BTC reserve for at least twenty years. This proposal is currently under review.
Recent statements from prominent figures in the industry suggest that smaller countries might adopt Bitcoin reserves before larger economies. Additionally, it has been predicted by Galaxy Digital that five companies on the Nasdaq 100 index and five nation-states could add Bitcoin to their reserves by 2025.
Galaxy Research’s prediction may set off a trend where other nations will follow suit in adopting Bitcoin as an asset class.
Source: cryptotale.org
