US Government Poised to Form Strategic Bitcoin Reserve by Year-End, According to Alex Thorn
Alex Thorn, head of firmwide research at Galaxy Digital, has expressed strong confidence that the United States government will establish a Strategic Bitcoin Reserve (SBR) before the end of 2024. Thorn emphasized that the market is underestimating the likelihood of this development, suggesting a significant shift in how the US approaches digital assets.
Background and Legislative Developments
Earlier this year, in March, former President Donald Trump signed an executive order officially creating the framework for a Strategic Bitcoin Reserve and US Digital Asset Stockpile. Despite this formal step, a comprehensive strategic plan has yet to be publicly confirmed.
However, momentum appears to be building. On the legislative front, US lawmakers recently introduced a bill mandating the Treasury Department to evaluate the feasibility and technical requirements of the SBR. This move signals continued government interest in integrating Bitcoin as a strategic asset.
Furthermore, Trump’s crypto liaison reaffirmed the administration’s commitment to the reserve concept in a crypto policy report published this summer, albeit with limited detail.
Diverging Industry Perspectives on Timeline
Not all experts share Thorn’s optimism regarding the timeline. Dave Weisburger, former chairman of CoinRoutes, predicts the US may not formally announce or hold Bitcoin in a strategic capacity until 2026. Weisburger suggests the government is likely waiting to accumulate a sufficient Bitcoin position before making any public declarations.
Concerns Over US Lagging Behind in Bitcoin Accumulation
Some prominent Bitcoin advocates warn that any delays could result in the US falling behind other nations in securing Bitcoin reserves. Samson Mow, founder of Jan3, stressed the urgency for the US to begin acquiring Bitcoin this year to avoid being outpaced by countries such as Pakistan.
Internationally, several countries are advancing their own state-level cryptocurrency initiatives. Kyrgyzstan recently progressed legislation to create a national cryptocurrency reserve, while in Indonesia, Bitcoin Indonesia has engaged with government officials to explore how such strategies could bolster economic growth.
Outlook
The formation of a US Strategic Bitcoin Reserve represents a potentially significant development in the intersection of national security and digital asset policy. While official plans remain pending, the combination of executive actions, legislative interest, and industry speculation suggests that the US is actively considering Bitcoin as a strategic asset. Market participants and policymakers will be closely watching for formal announcements and accumulation activity in the coming months.
FinOracleAI — Market View
The prospect of a US Strategic Bitcoin Reserve announcement this year is likely to have a positive short-term impact on Bitcoin markets, as it would signal official recognition of BTC as a strategic asset. This could boost institutional confidence and drive increased demand. However, risks include potential delays in formal accumulation and geopolitical uncertainties that may temper enthusiasm. Investors should monitor legislative progress and any Treasury reports for clearer indications of timing and scale.
Impact: positive
