’10:1′ with US Bitcoin strategic reserve by 2028: BlockTower Capital

The idea that the United States government will hold a strategic reserve of Bitcoin may be “bullish” for the price, but it is far from reality in the near future, said Ari Paul, Chief Information Officer at Blocktower Capital.

“I put Bitcoin as a strategic reserve 10:1 over the US over the next 4 years,” Paul wrote in a July 18 X post.

Traders pointed to the struggle of Bitcoin (BTC) to regain the price level of $65,000. As support in the near future.

Paul went on to say that even though the next president “doesn't intend to sell” any of the government's Bitcoin holdings, it certainly doesn't mean “establishing a Bitcoin strategic reserve.”

“What counts as a statement? A statement from Trump? An executive order? The U.S. government is already seizing bitcoin,” he added.

A strategic reserve is a resource stored by governments for emergencies or unforeseen events. For example, the US government holds a large amount of emergency crude oil, the ‘Strategic Petroleum Reserve', which is held to mitigate the damage caused by an oil supply crisis.

Social media speculation when Trump released an announcement

Paul's comments follow speculation on social media that former US President Donald Trump plans to make bitcoin a strategic reserve if re-elected this year at the Bitcoin 2024 conference in Nashville this month.

“Getting more and more confirmation that these rumors may be true. Trump to announce USA Bitcoin strategic reserve in Nashville, BnkToTheFuture founder Simon Dixon wrote in a July 18 X post.

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Dennis Porter, CEO and co-founder of the Satoshi Act Fund, said, “People don't believe that the United States can implement a Bitcoin Strategic Reserve, but at this point, it's inevitable.”

“Everyone should have a strategic reserve of Bitcoin. Hey you. Your family. Your business. Your city. Your state. Your country. Everyone,” added Michael Goldstein, aka “Bitstein,” president of the Satoshi Nakamoto Institute.

That's after entrepreneur and investor Mark Cuban recently speculated that geopolitical instability and inflationary pressures could push bitcoin to become a global reserve asset.

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