Summary
- KBW forecasts that the US government may purchase additional Bitcoin through selling gold.
- The US government is expected to hold about 86,000 BTC, and mentioned the possibility of Treasury bond issuance and Bitcoin stockpiling.
- The Trump administration's systematic Bitcoin stockpiling is evaluated to have a positive impact on the cryptocurrency market.
Investment bank Keefe, Bruyette & Woods (KBW) forecasts that the US government may sell some of its gold reserves to purchase additional Bitcoin (BTC).
According to CoinDesk on the 10th (local time), KBW investment bank stated in a report that "the US government currently holds 190,000 BTC," but added that "55% of this will be returned to Bitfinex, leaving about 86,000 BTC." The bank continued, "The US government may sell some of its gold holdings to purchase additional Bitcoin," and further explained, "There is also a possibility of stockpiling Bitcoin through Treasury bond issuance or cooperation with Bitcoin mining companies."
The bank also assessed that the Trump administration's approach would be positive for Bitcoin. The bank stated, "President Trump's push to stockpile cryptocurrencies is a historic moment," adding that "Bitcoin in particular is expected to be the biggest beneficiary." They continued, "Bitcoin is the only asset recognized as a strategic stockpile asset," and said, "Trump's actions will have a positive impact on Bitcoin's value and the blockchain industry as a whole."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
