Alex Thorn, who leads corporate research at Galaxy Digital, mentioned that there’s a strong possibility the US government will create a strategic Bitcoin reserve by the end of this year. However, opinions among industry leaders vary, and some are less optimistic.
“I believe it’s likely the US will announce a strategic Bitcoin Reserve (SBR) this year, recognizing BTC as a key asset,” Thorn stated in a post on X recently. He also noted that the current market sentiment seems to downplay the odds of such an announcement.
Indications of Progress
Back in March, President Trump signed an executive order that set up a strategic Bitcoin reserve and a stockpiling initiative for US digital assets, though formal strategic plans still seem unestablished.
Nonetheless, recent actions indicate that the plans might be advancing. For instance, a bill was introduced in Congress this past Tuesday, directing the US Treasury to evaluate the technical and practical aspects of establishing strategic Bitcoin reserves.
Furthermore, on July 31, Cointelegraph reported that Trump’s discussions around digital currencies highlighted ongoing interest from the administration in strategic Bitcoin reserves, even if only briefly mentioned in a recently released cryptographic policy report.
Still, there’s skepticism within the crypto community about a swift implementation. Dave Weisburger, a former chairman at Coinroutes, suggested that significant developments might not arise until 2026.
Concerns Over Delays
Weisburger pointed out that the current administration has repeatedly stated that they won’t make an announcement until they accumulate a certain amount of Bitcoin first. This has led to concerns among Bitcoin advocates that delays in accumulating Bitcoin could hinder progress for the US in this arena.
Samson Mow, founder of Jan3, expressed in June that the US needs to take action quickly to avoid falling behind other nations. He warned that the US risks being overtaken in Bitcoin acquisitions by countries like Pakistan.
Recently, Kyrgyzstan has taken a proactive approach by advancing a bill to create its own national cryptocurrency reserve, highlighting the growing interest in digital assets among emerging markets.
Additionally, on August 6, Bitcoin Indonesia’s advocacy group met with local officials to explore how Bitcoin strategies can bolster the country’s economic growth.
