A big change in prediction from a Galaxy Digital analyst has everyone talking about the US government possibly buying Bitcoin in 2025.
A Shifting Outlook
Alex Thorn, head of research at Galaxy Digital, recently tweeted that the US government’s potential Bitcoin purchase in 2025 is looking more likely. He initially predicted the US would simply hold onto existing Bitcoin, but now thinks a purchase is on the cards. This shift is based on recent developments and comments from key figures.
The Clues
Thorn points to several factors supporting his revised prediction:
- Bessent’s comments: US Treasury Secretary Scott Bessent’s unexpected mention of Bitcoin as a store of value during an interview with Tucker Carlson is seen as a significant sign.
- The Drumbeat: Statements from other influential figures like Robert “Bo” Hines and David Sacks also suggest a growing interest in government Bitcoin holdings.
- The Audit Deadline: An upcoming deadline for government agencies to audit their Bitcoin holdings adds to the intrigue. While the results might not be public, it suggests progress is being made.
The Trump Administration’s Bitcoin Push
The foundation for this increased likelihood is President Trump’s executive order establishing the US Strategic Bitcoin Reserve (SBR). This order directs the government to manage Bitcoin obtained through seizures and explores ways to acquire more Bitcoin without costing taxpayers extra money.
How Could They Buy Bitcoin?
One intriguing idea being explored is using gold certificates. These are valued much lower than the actual gold market price, potentially allowing the government to acquire Bitcoin without directly spending large sums of taxpayer money.
Just How Much Bitcoin?
Robert “Bo” Hines, a key advisor, compared the government’s Bitcoin acquisition goal to a country’s gold reserves – implying they’re aiming to acquire as much as possible. David Sacks, another strong advocate for government involvement in crypto, shares this sentiment.
At the time of this writing, Bitcoin was trading at $77,570. The possibility of the US government entering the market could significantly impact the price.
