On March 24, some US government officials revealed that they are considering using part of the national gold reserves to buy Bitcoin (BTC), with the aim of increasing the amount of digital assets held by the country.
If the US government implements the purchase of BTC using gold reserves, this would be a major turning point, not only for the cryptocurrency market but also potentially changing the asset reserve landscape of countries worldwide. When the US participates in Bitcoin accumulation on a national scale, this could drive a new trend where other governments also consider buying BTC to avoid falling behind in the digital asset race. This could create a Bitcoin reserve "race" between countries, thereby helping to push BTC prices higher.
Moreover, if the US officially makes this move, it could impact global monetary policy, as Bitcoin's role in the traditional financial system is strengthened. Large financial institutions and investment funds may increase BTC purchases, leading the market into a strong growth phase.
Previously, on March 7, White House AI and Cryptocurrency Advisor David Sacks announced on social media that President Donald Trump had just signed an executive order to establish a strategic Bitcoin reserve fund.
According to Sacks, the fund will be formed from the Bitcoin that the US government currently holds, mainly from asset seizures in criminal or civil cases, without spending taxpayer money.
Currently, the US government is estimated to own around 200,000 BTC, though no comprehensive audit has been conducted. The new order requires a full report on all digital assets of the federal government. The Bitcoin in the reserve fund will not be sold but kept as a store of value, similar to how gold is protected at Fort Knox.
Additionally, this order establishes a US Digital Asset Reserve Fund, including other digital assets seized through legal cases. However, the government will not purchase new assets for the fund but only manage the seized assets under the supervision of the Treasury Department.
Also Read: Mr. Trump Signs Order to Open Strategic Bitcoin Reserve Fund
