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Galaxy Research Predicts US Will Not Buy Bitcoin in 2025
A recent report by Galaxy Digital Research has made a bold prediction regarding the United States’ stance on buying Bitcoin. The research firm claims that the U.S. government will not purchase any new Bitcoins in 2025.
According to Spot on Chain, the U.S. government currently holds approximately 183,850 BTC worth $17.36 billion across different addresses. Instead of acquiring additional Bitcoins, Galaxy Research suggests that the focus will be on maintaining the current balance and exploring the long-term use of cryptocurrencies in a treasury capacity.
This news comes amidst ongoing discussions around establishing a Bitcoin reserve policy. The proposed Bitcoin Act 2024 aims to enable the government to acquire up to 200,000 BTC per year for five years, ultimately establishing a one million BTC reserve for at least twenty years. This proposal is currently under legislative review.
It’s worth noting that the idea of governments accumulating Bitcoins is gaining traction globally. In an interview at the Bitcoin MENA conference in Abu Dhabi on December 9th, Changpeng “CZ” Zhao, former CEO of Binance, suggested that small countries may adopt Bitcoin reserves before larger economies. He also emphasized a gradual approach.
Japan’s Prime Minister Shigeru Ishiba echoed similar sentiments during a recent address, citing uncertainties surrounding the adoption of a Bitcoin reserve.
In another significant development, Galaxy Research predicts that five companies listed on the Nasdaq 100 index and five nation-states could add Bitcoin to their reserves by 2025. This potential increase in demand for Bitcoin may lead to a surge in competition from nations with large sovereign wealth funds or countries seeking to counter U.S. economic dominance.
The prediction by Galaxy Research has sent shockwaves through the cryptocurrency market, causing some investors to reassess their strategies and portfolios. As more information becomes available, we will be keeping a close eye on any updates related to this topic.
Source: cryptotale.org
