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Donald Trump’s return to the spotlight with the Republican Party’s victory has generated significant expectations within the crypto world. The crypto community hopes that the U.S. will recognize Bitcoin 
$103,297 as a strategic reserve asset and hold it in its official reserves. It is known that Trump proposed creating a Bitcoin reserve and issuing Bitcoin checks as part of his campaign strategy to reduce the U.S.’s $35 trillion national debt. Following Trump’s victory, Wyoming Senator Cynthia Lummis stated that “the U.S. will create a Bitcoin strategic reserve.” This statement was supported by MicroStrategy Chairman Michael Saylor, who emphasized the need to establish a strategic Bitcoin reserve.
The U.S. Aims for 1 Million Bitcoin Reserve
Cynthia Lummis is recognized as a senator who supports Bitcoin. During the Bitcoin 2024 conference in Nashville in July, she expressed that the reserves of the 12 Federal banks should gradually be converted to Bitcoin within five years following the White House victory. According to Lummis’s proposal, the U.S. government should hold at least 5% of the total Bitcoin supply as reserves. Based on this target, the U.S. would need to have 1 million Bitcoins, which signifies four times the current 218,000 BTC held in state reserves.
Will Bitcoin Reach $3 Million? Experts Make Bold Claims
Furthermore, Matthew Sigel, president of the investment firm VanEck, predicts that Bitcoin will become a global reserve asset by 2050, reaching a value of $3 million. This prediction suggests that Bitcoin will gain value beyond future price increases. Sigel’s forecast implies that the U.S. Bitcoin reserve initiative may encourage other countries to develop similar strategies.
Establishing a U.S. Bitcoin strategic reserve may enhance the acceptance and legitimacy of digital assets. If major economies like the U.S. consider Bitcoin as a reserve asset, it could attract interest from other countries and strengthen Bitcoin’s position in the global economy.
