Share this article
U.S. Crypto Task Force to Focus on Delivering National Bitcoin Reserve: Bernstein
The Federal Reserve could issue debt or sell some of its gold reserves to fund purchases of BTC, the report said.
Feb 17, 2025, 9:34 a.m.
What to know:
- The U.S. crypto task force will focus on delivering a national bitcoin reserve, the report said.
- Bernstein said the Federal Reserve could issue debt or sell some of its gold reserves to fund cryptocurrency purchases.
- The formation of a U.S. bitcoin reserve could lead to a race among sovereign nations to buy the world's largest cryptocurrency, the broker said.
The U.S. crypto task force will focus on starting up a national reserve, a move that is likely to spur similar efforts worldwide, broker Bernstein said in a research report Monday.
"A creation of a U.S. bitcoin reserve could lead to a global race amongst sovereigns to buy bitcoin as one of the reserve assets," analysts led by Gautam Chhugani wrote.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The formation of a strategic reserve poses a number of structural questions, the report said.
Will the U.S. Federal Reserve or the Treasury buy bitcoin? If the Fed, that would require legislative approval, the report noted.
How would the Fed fund cryptocurrency purchases? Bernstein said it could issue debt or sell some of its gold reserves.
The U.S. government could add the $20 billion in bitcoin it has seized from criminal enterprises to any national reserve, the report added.
The broker noted that the Trump administration also announced the creation of a sovereign wealth fund (SWF).
Such a fund "would consider key U.S. crypto companies/market leaders, as strategic assets to own," Bernstein said. "Investors should position themselves for the next leg of the bull market across bitcoin and bitcoin linked equities."
Read more: Crypto Ecosystem Growth Slowed in January Even as Total Market Cap Rose, JPMorgan Says
More For You
Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
알아야 할 것:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
Top Stories
