The anticipated addition of BTC to the US strategic reserves could integrate thousands of coins into the Treasury. If this initiative is approved, the North American country could begin purchases this year. According to the CEO of deVere Group, Nigel Green, the country will buy between 300 thousand and 400 thousand bitcoins.
In a note to his firm's clients, cited by Investing, the businessman highlights that the US government will make staggered purchases of BTC. The expert highlights that the country's decision to move towards digital currency should not be seen entirely as an economic measure. "This is a geopolitical masterstroke," he says.
According to this and other experts, BTC will allow the global dominance of the United States dollar to be reaffirmed. Likewise, it combines this potential with the move towards a global digital economy. It is worth noting that, although this measure generates great enthusiasm, it also faces numerous obstacles and detractors. Even the Federal Reserve itself shows clear disdain for this initiative promoted by US President Donald Trump.
Despite this, Green is optimistic about the expected future of the Bitcoin strategic reserve project. In that sense, the fact that the United States will buy up to 400 thousand bitcoins could give a huge boost to the price of the digital currency, he comments.
The acquisition of a large sum of Bitcoin by the authorities of the North American country will have greater repercussions. Thus, beyond the appreciation of the price of the token, it could cause a reconfiguration of the world economy, the expert emphasizes.
Until now there is not enough clarity about the approval process of the strategic reserve of the largest cryptocurrency. There are two possibilities for this approval. The first is through the endorsement of Congress and the second is through direct executive order from the oval office. Both cases have pros and cons and Trump's team has surely been analyzing possible scenarios for months.
In the case of approval by Congress, the initiative would become Law. This means that everyone must assume and respect it, even if they are against it. No government in power will have the possibility of opposing this mandate of the highest legislative body of the country. The downside is that the process would take months or even years.
For its part, in the case of an executive order, it would take effect immediately, given that it would only need Trump's signature. However, a presidential signature from another government could annul it. So far, experts consider that the BTC reserve will come through an executive order to be signed during the first quarter of 2025.
Source: Alejandro Gil / Cryptotrend.
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