The US government is reportedly considering purchasing Bitcoin, according to a Bloomberg analyst, with a 30% probability of this happening by 2025.
Over the past year, Bitcoin has proven to be one of the most disruptive and profitable investments in the digital world. Now, a recent Bloomberg report suggests that the US government could join this trend, with A 30% chance of a federal Bitcoin purchase happening this year.
BUY BITCOINOther sources close to the administration revealed that President Trump's chief executive has stated that The government is evaluating "countless ideas" to acquire Bitcoin., stating that “the best” of them will be implemented to achieve this goal.
These rumors align with Trump's announced plans to make the United States the crypto capital of the world, which have sparked intense debate in the financial and political spheres, especially since the adoption of Bitcoin by a national government could mark a turning point in the history of cryptocurrencies.
What does the potential purchase of Bitcoin by the United States imply?
The purchase of Bitcoin by the United States government would be an unprecedented step in the history of Bitcoin and cryptocurrencies. Although countries like El Salvador and the Central African Republic have already adopted Bitcoin as legal tender and reserve asset, and have even regulated its use, direct adoption by a government as influential as the United States, considered the world's leading power, could have significant repercussions on the global market.
For experts, an investment of this magnitude would boost the legitimacy of Bitcoin as a financial assetHistorically, institutional adoption has been a key factor in BTC's price growth, and direct involvement from the US government would be no exception. Furthermore, this could set a precedent for other governments to follow suit, potentially accelerating global cryptocurrency adoption.
GO TO BIT2ME CARDThe role of the Exchange Stabilization Fund (FSE)
Bloomberg analyst mentions that the US government could use the Exchange Stabilization Fund (FSE) to unilaterally purchase Bitcoin. The ESF is a government fund created in 1934 to stabilize financial markets and protect the country's economic interests.
While the ESF has been used in the past to intervene in foreign exchange markets, using it to purchase digital assets like Bitcoin would be a novelty. However, from a legal perspective, the fund has the ability to invest in a variety of assets, provided certain legal and regulatory requirements are met.
Using the ESF to purchase Bitcoin could simplify the process, avoiding the need for congressional approval., who has historically been skeptical of cryptocurrencies. Matthew Sigel, head of research at VanEck, noted that, according to the Bloomberg analyst, Trump could use the ESF to buy Bitcoin instead of waiting for legislation to pass.
Earlier this month, the US president signed an executive order establishing the federal Bitcoin reserve. While the order states that the reserve will be created with assets seized by federal agencies, currently amounting to about 200.000 BTC, it also left open the possibility for the Treasury Department and the Commerce Department to purchase additional Bitcoin. According to the order, these departments will be required to submit their own budgets to fund additional acquisitions of the cryptocurrency, as long as such plans do not incur additional costs for taxpayers.
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These new rumors of a possible federal Bitcoin purchase have generated significant excitement in the crypto market. Many Bitcoin experts and enthusiasts see this as a step toward mainstream adoption, which could boost the asset's price and attract more institutional investment over time.
At press time, the price of Bitcoin (BTC) is trading above $84.000 per unit, with weekly growth of nearly 2%.
Investing in cryptoassets is not fully regulated, may not be suitable for retail investors due to high volatility and there is a risk of losing all invested amounts.
