Summary
- Matthew Sigel reported that the US government has only a 30% chance of buying Bitcoin this year.
- Sigel stated that the Trump administration is unlikely to consider purchasing virtual assets as reserves.
- He added that the bill is symbolic and unlikely to be enacted into actual law.
Matthew Sigel, head of digital asset research at US asset management firm VanEck, cited Bloomberg legal analysis on the 21st (local time) via X (formerly Twitter), stating that the US government has only a 30% chance of buying Bitcoin (BTC) this year.
He said, "Expectations that the Trump administration will buy Bitcoin this year should be lowered," adding, "The government is unlikely to purchase Bitcoin or other virtual assets as reserves this year."
He continued, "Even if the proposal passes Congress, no decision will be made at least until the 2026 midterm elections," adding, "The bill currently being drafted under the Trump executive order is merely symbolic and is unlikely to be enacted into actual law."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
