In a significant turn of events, Alex Thorn, Head of Research at Galaxy Digital, has revised his outlook on the potential for United States government purchases of Bitcoin (BTC) in 2025. Speaking on social media, Thorn revealed that there is an increasing likelihood of the US government making significant strides in the logistics of the Strategic Bitcoin Reserve (SBR). He noted, “We had originally predicted in December 2024 that the US would formally hold BTC without making purchases, but our current assessment suggests that the odds are climbing that the US government will make at least one purchase in 2025.”
This revision hinges on recent comments by key figures within the Trump administration, specifically concerning the establishment of the SBR. Thorn emphasized the importance of the upcoming audit deadline for government agencies regarding their digital assets, which could indicate considerable progress in the US’s approach to Bitcoin. He quoted the urgency: “Keep in mind Monday is the deadline from SBR EO for government agencies to complete the audit of their Bitcoin and digital assets holdings.”
The surge in optimism can largely be attributed to remarks made by US Treasury Secretary Scott Bessent during an interview. When asked about the movement of gold, Bessent unexpectedly transitioned to discussing Bitcoin, reinforcing its emerging status as a viable store of value. Steven Lubka from Swan Financial remarked, “After a brief reply about gold, Bessent pivoted to Bitcoin, signaling its importance in the current asset landscape.” This shift underscores a broader acceptance of Bitcoin in government financial planning.
The recent executive order signed by President Trump on March 6 further solidified the concept of a Strategic Bitcoin Reserve. The order mandates federal control over any Bitcoin acquired through forfeiture or seizure, marking a strategic shift in how digital assets are perceived and managed. Notably, the directive instructs the Treasury and Commerce Departments to explore strategies for acquiring additional Bitcoin in a cost-neutral manner, ensuring no added burden on taxpayers.
Executive Director of the Presidential Council of Advisers for Digital Assets, Robert “Bo” Hines, provided an intriguing perspective on how much Bitcoin the government might seek to accumulate. He likened the question to asking a country about its gold reserves, stating, “It’s like asking a country, how much gold do you want? Right. I mean, as much as we can get.” This analogy not only highlights the significant interest in Bitcoin but also emphasizes the government’s long-term strategy for digital assets.
Hines’s comments echo sentiments shared by other advisors like David Sacks, known as the “Crypto Czar,” who advocates for increased government involvement in the cryptocurrency space. Together, these officials signal a move towards a more structured approach to Bitcoin, integrating it into national financial strategy.
As the potential for a United States purchase of Bitcoin emerges on the horizon, industry experts are left to ponder the implications such a move would hold for the cryptocurrency ecosystem. With Bitcoin currently stabilizing above $77,000, all eyes are on the government’s next steps in the evolving landscape of digital finance.
