U.S.Government’s Bitcoin Holdings and Future Plans
As of March 12, teh U.S. government owns 195,234 bitcoin,worth over $16 billion,according to a Nansen report. This portfolio also includes $4.6 million in Ethereum and other digital assets like USDC.
A new bill by Rep. Nick Begich could considerably boost these holdings. The House Strategic Bitcoin Bill proposes acquiring 1 million BTC over five years. At today’s prices, this would cost nearly $110 billion.
Market Impact
If the bill passes, the government’s Bitcoin stash would exceed the 1.1 million BTC linked to Satoshi Nakamoto. This could give the government a major role in market liquidity and price stability,possibly boosting Bitcoin’s value.
However, this level of control raises concerns. Bitcoin is meant to be decentralized.large government purchases could make it a price setter, which some see as against Bitcoin’s core principles.
These developments highlight the growing intersection between government policy and the crypto world. They also underscore the need for careful consideration of how such policies might shape the future of digital currencies.
