Following Trump’s re-election, discussions on a U.S. strategic Bitcoin reserve have intensified. Vaneck supports the idea, with its digital assets head, Matthew Sigel, voicing favor on social media.
The establishment of a strategic bitcoin reserve in the United States has been the subject of increased discussion in the wake of President Donald Trump’s re-election. The concept of a strategic bitcoin reserve for the United States has been the subject of discussion among numerous financial analysts and asset management firms.
Vaneck’s View on US Bitcoin Reserve
Vaneck has advocated for the establishment of a bitcoin reserve among financial institutions. Vaneck’s director of digital asset research, Matthew Sigel, expressed his opinion on the social media platform X last week:
Vaneck endorses strategic bitcoin reserve.
The function of digital assets in national economic strategy has been the subject of significant debate as a result of Trump’s proposal to establish a U.S. bitcoin reserve. The Bitcoin Act, which has been introduced by U.S. Senator Cynthia Lummis (R-WY), suggests that the U.S. Treasury accumulate up to one million bitcoins over a five-year period.
Blackrock, the world’s largest asset manager, reportedly denied any endorsement, in contrast to Vaneck. Last week, Eleanor Terrett, a journalist for Fox Business, disclosed the following on X:
Sources close to Blackrock tell Fox Business the big money manager is not endorsing a strategic BTC reserve despite recent reports that it is.
Differing institutional attitudes toward bitcoin as a reserve asset are underscored by these opposing perspectives.
Michael Saylor, a bitcoin optimist, continues to endorse the concept, comparing a bitcoin reserve to historical investments such as the Louisiana Purchase or the acquisition of Manhattan.
Embracing bitcoin could diversify national assets and safeguard against economic instability, according to Saylor. Microstrategy, his software intelligence firm, has maintained its aggressive acquisition of cryptocurrency. Microstrategy has amassed 386,700 BTC as of the time of this writing.
Senator Lummis recently clarified that the United States could create a bitcoin reserve without incurring new expenditures by utilizing existing federal assets.
She emphasized that a reserve could be established by revaluing gold certificates at current market prices and converting them into bitcoin, as well as utilizing the over 200,000 BTC that are already held through asset forfeitures.
Lummis proposed that this reserve could bolster the U.S. dollar’s status as a global reserve currency and contribute to the reduction of the national debt. She emphasized that this method would prevent the escalation of government spending and strategically leverage current assets for economic gain.
