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Galaxy Research Predicts US will not Buy Bitcoin in 2025
As the year draws to a close, it has become clear that the United States government is unlikely to purchase additional Bitcoin in 2025. According to a report by Galaxy Digital Research, the U.S. authorities are instead focusing on maintaining their current balance of bitcoins while exploring the long-term potential use of cryptocurrencies within the treasury.
As it stands, the U.S. holds approximately 183,850 BTC worth $17.36 billion across various addresses. This significant stake in Bitcoin highlights the government’s commitment to securing its existing holdings rather than making new purchases.
The findings by Galaxy Digital Research contradict earlier predictions suggesting that the US would expand their Bitcoin reserves in the coming year. The report also underscores the need for policymakers to consider Bitcoin as a strategic asset, as highlighted in Wyoming Senator Cynthia Lummis’ proposed Bitcoin Act 2024.
This proposed law aims to enable the government to acquire up to 200,000 BTC annually over five years, thereby establishing a one million BTC reserve for at least twenty years. The proposal remains under legislative review and its implementation is uncertain.
In related news, Galaxy Digital Research predicts that by 2025, five companies listed on the Nasdaq 100 index and five nation-states could add Bitcoin to their reserves. This development may give rise to increased competition for Bitcoin from countries with substantial sovereign wealth funds or those seeking to counter U.S. economic dominance.
The world of cryptocurrency is abuzz with the prospect of global governments adding Bitcoin to their reserves, as this would grant legitimacy to the digital currency and potentially lead to a significant increase in its value.
While the news may be disappointing for some Bitcoin enthusiasts, it is essential to acknowledge that the US government’s decision not to purchase additional Bitcoin does not necessarily imply that the cryptocurrency is on a downward trajectory. In fact, a surge in demand from other nations or institutional investors could offset any potential decrease in demand from the U.S.
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Source: cryptotale.org
