The Biggest Buyer of Them All Is Targeting Bitcoin

The Biggest Buyer of Them All Is Targeting Bitcoin

Bitcoin has a lot going for it.

It’s trading at all-time highs. Demand for bitcoin exchange-traded funds (ETFs) is through the roof.

And Donald Trump, a pro-bitcoin president, just won the election.

But an even bigger catalyst could be on the way — one that could propel bitcoin to as high as $500,000.

As soon as next year, the United States government could start buying bitcoin by the truckload.

That’s because many believe President Trump will introduce a “strategic bitcoin reserve.”

This simply means the federal government will start buying bitcoin and holding it on its balance sheet.

It sounds unbelievable. After all, nothing like this has happened in bitcoin’s 15-year history.

Until recently, the U.S. government has fought bitcoin tooth and nail. It’s not the only major government to take this stance, either.

Other countries have tried to regulate bitcoin to death. Some have banned it outright within their borders.

And it’s not hard to understand why.

Bitcoin is simply better-quality money than fiat currency.

Unlike fiat currency, bitcoin cannot be diluted. There will only ever be 21 million bitcoin. Bitcoin can’t be printed out of thin air. Real work in the form of energy-intensive bitcoin mining has to take place before new bitcoins can be formed.

Global investors are starting to wake up to the idea of just how superior a form of money bitcoin is when compared to central bank-issued fiat currency.

That’s why the U.S. government has largely treated bitcoin as a threat.

And it’s why the idea of a strategic bitcoin reserve is so incredible. It would mark a complete turnaround in how governments deal with bitcoin.

And this “crazy” idea is starting to gain traction.

The day after President Trump won the election, Wyoming Republican Senator Cynthia Lummis wrote this on X (formerly Twitter):