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Claim from Galaxy Digital Researcher: “The US Government Will Soon Buy Bitcoin Without Spending Money,” He Said, Hinting at Altcoins

Alex Thorn, Head of Corporate Research at Galaxy Digital, makes a bold prediction that the United States government could soon start purchasing Bitcoin for a newly established strategic reserve. Thorn’s comments were made in a recent interview in which he discussed the implications of the United States Digital Asset Stockpile Executive Order issued in March, which prohibited the government from selling Bitcoin while instructing the Commerce and Treasury Departments to explore budget-friendly ways to accumulate Bitcoin without using taxpayer money. “We predicted at the end of last year that they would hold Bitcoin but not buy it,” Thorn explained, adding, “But with the executive order, it became more plausible that they would make an actual purchase.” Related News: BREAKING: FED Chairman Jerome Powell Speaks About Cryptocurrencies - Bitcoin Price Reacted The order also banned the purchase of altcoins, leaving the management of these assets to individual departments. “You can sell an altcoin as a BTC pair and not touch the cash at all,” Thorn said, noting that the government could consider selling the altcoins it already has in its possession to fund Bitcoin purchases. According to Thorn, relevant departments were required to report on the government’s current Bitcoin holdings within 30 days of the order. While the content of this report has not been disclosed, Thorn believes that the report has already been submitted to the White House. Fueling the speculation, Treasury Secretary Carla Besson recently referred to Bitcoin as a “store of value,” a view echoed by advocates such as Bo Hines and David Sacks who have argued that the U.S. should view Bitcoin as a strategic asset. Thorn also acknowledged the difficulty of maintaining budget neutrality: “There are so many claims on the cash that goes into the treasury. But a neat solution would be to sell the altcoins that sit quietly in digital reserves, many of which Congress doesn’t even know exist.” *This is not investment advice. Continue Reading: Claim from Galaxy Digital Researcher: “The US Government Will Soon Buy Bitcoin Without Spending Money,” He Said, Hinting at Altcoins CoinTurk News

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Discover How Tether Dominates the Crypto Lending Market

Tether significantly impacts the cryptocurrency lending landscape. Centralized and decentralized finance sectors show marked competition. Continue Reading: Discover How Tether Dominates the Crypto Lending Market The post Discover How Tether Dominates the Crypto Lending Market appeared first on COINTURK NEWS . CoinTurk News