TLDR
- Galaxy Digital’s Alex Thorn expects the U.S. to form a Strategic Bitcoin Reserve by year-end.
- U.S. lawmakers introduced a bill to study the feasibility of the Strategic Bitcoin Reserve.
- Former CoinRoutes chairman Dave Weisburger predicts the reserve could be delayed until 2026.
- Concerns arise that delays in forming the reserve may cause the U.S. to fall behind in Bitcoin accumulation.
The creation of a Strategic Bitcoin Reserve (SBR) by the United States government may become a reality by the end of this year, according to Alex Thorn, head of firmwide research at Galaxy Digital.
Thorn expressed confidence in a recent social media post, suggesting that the market is underestimating the likelihood of such an announcement. Despite the optimism, other industry executives remain uncertain about the timeline and the plan’s execution.
Ongoing Developments Indicate Progress
The idea of a U.S. Strategic Bitcoin Reserve gained traction earlier this year when President Trump signed an executive order to establish both the SBR and the U.S. Digital Asset Stockpile in March. However, despite the executive order, a formalized strategy for the reserve has yet to be announced. Recently, U.S. lawmakers introduced a bill instructing the U.S. Treasury to study the feasibility and technical aspects of forming an SBR. This move suggests that the proposal is advancing, even though a final plan has not been confirmed.
On July 31, it was reported that a liaison within the Trump administration reaffirmed the government’s interest in the SBR. The official noted that the administration remains keen on the reserve, even if it was only briefly mentioned in the recent crypto policy report. This signals that the project is likely moving forward despite a lack of detailed plans.
Uncertainty Surrounds the Timing of the Reserve’s Creation
However, not all market participants share Thorn’s optimism about the reserve’s quick formation. Dave Weisburger, former chairman of CoinRoutes, expressed skepticism about the timing, suggesting that the U.S. government is more likely to announce the SBR by 2026. Weisburger pointed out that it may be strategic for the government to wait until it has accumulated a significant amount of Bitcoin before formally launching the reserve. This caution aligns with his belief that the government will avoid making any announcements until it has reached its target.
Some Bitcoin advocates have voiced concerns over the potential delay. They argue that the U.S. risks falling behind other nations in accumulating Bitcoin if the reserve’s formation is prolonged.
The Road Ahead for the U.S. Bitcoin Reserve
The creation of the SBR remains a topic of debate within the crypto industry. While some analysts believe it could happen by the end of the year, others suggest it could take longer.
The introduction of legislation and the administration’s continued focus on the reserve point to a forward-moving effort, though the exact timing remains uncertain. With multiple developments still unfolding, the timeline for the SBR’s formation will likely continue to evolve.
