Samson Mow, CEO of JAN3, a Bitcoin tech firm, predicts the US government will significantly increase its Bitcoin holdings. He believes this is a strategic move to surpass China’s Bitcoin reserves.
The “Strategic Bitcoin Reserve” Race
Mow argues that the current US Strategic Bitcoin Reserve (SBR), largely comprised of seized Bitcoin, is insufficient. While some see it as inactive, Mow views its creation as a pivotal moment, launching a global competition for national Bitcoin dominance.
Questioning US Bitcoin Holdings
Mow casts doubt on widely reported figures of US Bitcoin holdings, suggesting they’re inflated. He estimates the US holds significantly less than the often-cited 200,000 BTC, potentially as low as 112,000 BTC after accounting for Bitfinex’s 95,000 BTC, which are expected to be returned. This would place China in the lead with its estimated 194,000 BTC.
A Strategic Necessity
Mow believes the US government won’t tolerate China holding the largest Bitcoin stash. He anticipates an upcoming audit of US Bitcoin reserves, followed by substantial purchases to reclaim the top spot. He sees this competition as ultimately beneficial for Bitcoin.
Note: At the time of writing, Bitcoin’s price was $86,388. This information is for general knowledge and should not be considered financial advice. Always conduct thorough research before making any investment decisions.
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