US Government Bitcoin Purchase Likelihood Increases 2025

Alex Thorn, Head of Research at Galaxy Digital, has revised his outlook on the likelihood of the United States government purchasing Bitcoin in 2025. In a recent post, Thorn noted a shift in his perspective, stating that while he previously predicted the US would formally hold Bitcoin but not purchase it in 2025, the odds of at least one purchase by the US government in 2025 are now increasing.

Thorn cited recent comments from the Trump administration as a key factor in this change. He referenced remarks made by US Treasury Secretary Scott Bessent in an interview, where Bessent discussed Bitcoin as a store of value. Additionally, Thorn highlighted the upcoming deadline for the Bitcoin audit, suggesting that progress is likely being made behind the scenes.

Bessent's comments came in response to a question about the movement of gold around the world. After briefly addressing gold, Bessent shifted the conversation to Bitcoin, acknowledging its growing status as a store of value. This shift in conversation was noted by Steven Lubka, head of private wealth at Swan, who saw it as a significant indicator of the government's interest in Bitcoin.

These developments follow the executive order signed by President Trump on March 6, which established the US Strategic Bitcoin Reserve (SBR). This order directs the repurposing of any Bitcoin obtained through forfeitures and seizures, placing it under federal control as a strategic asset. The Treasury and Commerce Departments are also tasked with developing strategies for acquiring additional Bitcoin, ensuring that these methods remain budget neutral and do not impose additional costs on taxpayers.

Robert “Bo” Hines, Executive Director of the Presidential Council of Advisers for Digital Assets, has suggested that one method under consideration for acquiring Bitcoin is through the use of gold certificates. These certificates are valued at a statutory price significantly lower than the current spot price of gold, potentially providing a cost-effective means of acquiring Bitcoin.

Hines, speaking at the Digital Assets Summit, emphasized the administration's commitment to Bitcoin and compared the government's approach to securing Bitcoin to its strategy for gold reserves. He noted that the goal is to acquire as much Bitcoin as possible, similar to how countries aim to build up their gold reserves.

Hines's remarks were supported by David Sacks, known as the “Crypto Czar,” who has been a vocal advocate for greater government involvement in digital assets. Sacks's endorsement further underscores the administration's interest in integrating Bitcoin into its strategic reserves.