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U.S. Crypto Task Force to Focus on Delivering National Bitcoin Reserve: Bernstein
The Federal Reserve could issue debt or sell some of its gold reserves to fund purchases of BTC, the report said.
Feb 17, 2025, 9:34 a.m.
What to know:
- The U.S. crypto task force will focus on delivering a national bitcoin reserve, the report said.
- Bernstein said the Federal Reserve could issue debt or sell some of its gold reserves to fund cryptocurrency purchases.
- The formation of a U.S. bitcoin reserve could lead to a race among sovereign nations to buy the world's largest cryptocurrency, the broker said.
The U.S. crypto task force will focus on starting up a national reserve, a move that is likely to spur similar efforts worldwide, broker Bernstein said in a research report Monday.
"A creation of a U.S. bitcoin reserve could lead to a global race amongst sovereigns to buy bitcoin as one of the reserve assets," analysts led by Gautam Chhugani wrote.
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Başka bir hikayeyi kaçırmayın.Bugün Crypto Daybook Americas Bültenine abone olun. Tüm bültenleri gör
The formation of a strategic reserve poses a number of structural questions, the report said.
Will the U.S. Federal Reserve or the Treasury buy bitcoin? If the Fed, that would require legislative approval, the report noted.
How would the Fed fund cryptocurrency purchases? Bernstein said it could issue debt or sell some of its gold reserves.
The U.S. government could add the $20 billion in bitcoin it has seized from criminal enterprises to any national reserve, the report added.
Reklam
The broker noted that the Trump administration also announced the creation of a sovereign wealth fund (SWF).
Such a fund "would consider key U.S. crypto companies/market leaders, as strategic assets to own," Bernstein said. "Investors should position themselves for the next leg of the bull market across bitcoin and bitcoin linked equities."
Read more: Crypto Ecosystem Growth Slowed in January Even as Total Market Cap Rose, JPMorgan Says
Lebih untuk Anda
Lebih untuk Anda
Bitcoin Jumps to $99K as Spiking Coinbase Premium Points to Strong U.S. Buying
Spot BTC prices were at times $300 pricier on Coinbase relative to Binance, suggesting the rally may be driven by heavy demand from American investors.
Yang perlu diketahui:
- Bitcoin surged towards $100,000 on Wednesday's U.S. trading session, gaining 3.2% in the past 24 hours.
- The rally coincided with significant spot BTC price premium on Coinbase.
- Fed Chair Jerome Powell called bitcoin a competitor to gold during a panel discussion.
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