The United States could establish a strategic Bitcoin reserve within the first 100 days of President-elect Donald Trump’s administration, according to a key insider. David Bailey, CEO of BTC Inc. and instrumental in shifting Trump’s stance on Bitcoin, emphasized the urgency of this initiative amid concerns that other nations might outpace the US in BTC accumulation.
When Will The Strategic Bitcoin Reserve Be A Reality?
Bailey expressed his concerns on X today, warning that “America is at major risk of being front run on its Bitcoin agenda.” He added, “We must establish the Strategic Bitcoin Reserve as quickly as possible. President Trump has the house and senate. He has a mandate. The environment is there for us to get this done in first 100 days.”
America is at major risk of being front run on its bitcoin agenda. We must establish the Strategic Bitcoin Reserve as quickly as possible.
President Trump has the house and senate. He has a mandate. The environment is there for us to get this done in first 100 days.
— David Bailey🇵🇷 $0.85mm/btc is the floor (@DavidFBailey) November 7, 2024
His remarks come as speculation mounts within the community about how Trump will deliver on his previous promises. Following Trump’s election victory yesterday, his son Eric Trump reinforced this anticipation by responding to MicroStrategy Executive Chairman Michael Saylor‘s declaration of “We have a Bitcoin President” with a call to action: “America must lead the way!”
America must lead the way! https://t.co/ZThsy0gSNh
— Eric Trump (@EricTrump) November 6, 2024
Notably, US Senator Cynthia Lummis of Wyoming has also renewed her advocacy for a national BTC reserve on November 6. She took to X yesterday to proclaim, “WE ARE GOING TO BUILD A STRATEGIC BITCOIN RESERVE.”
WE ARE GOING TO BUILD A STRATEGIC BITCOIN RESERVE 🇺🇸 🇺🇸 🇺🇸
— Senator Cynthia Lummis (@SenLummis) November 6, 2024
In July, Lummis introduced the Bitcoin Act, which proposes that the US government purchase up to 200,000 BTC per year over a five-year period, totaling 1,000,000 BTC. This legislative push aligns with Trump’s view. At the 2024 Bitcoin Conference, he advocated converting all BTC confiscated by law enforcement into a national “stockpile.”
“Many nation states are about to start making moves into Bitcoin,” Bailey noted yesterday. Prominent figures in the community have weighed in on the potential establishment of a US strategic BTC Reserve, emphasizing its global significance.
Dylan LeClair, a respected analyst, suggested that time is of the essence: “You have approximately three months until the US Government puts into law active accumulation of BTC as a strategic reserve asset. Other sovereigns will be discreetly front running. The clock has already started.”
Joe Consorti, Head of Growth at Theya Inc., highlighted the scale of the proposed accumulation: “The US will buy 550 BTC/day for 5 years, and hold all of it for a minimum of 20 years.” He described it as “an infinite balance sheet pouring into absolute and immutable scarcity.”
Travis Kling, CEO and founder of Ikigai Asset Management, reflected on the changing tides and the possibility: “When this was announced at the Nashville conference, I thought it was pretty unlikely. Just felt like a bridge too far. Almost like it was too bullish to believe. With a red wave, the likelihood of this has drastically increased. If it does, legit WAGMI.”
At press time, BTC traded at $74,640.
Featured image created with UEEx, chart from TradingView.com
Source: https://bitcoinist.com/strategic-bitcoin-reserve-trump-first-100-days/