US Government's Strategic Bitcoin Reserve Plan Faces Skepticism

Bitget CEO Gracy Chen has expressed skepticism about the US government's likelihood to purchase Bitcoin for its strategic reserve, according to a recent report by Crypto Briefing. This comes amidst ongoing speculation about the government's role in accumulating cryptocurrency.

The executive order signed in March last year restricts the reserve to Bitcoin obtained through criminal and civil forfeiture, without allocating new funds for purchases or authorizing market acquisitions. This interpretation suggests that any potential reserve would be built solely from assets already in government hands.

US Treasury Secretary Scott Bessent has expressed support for this strategy, but no specific purchase plan has been announced. Bitget's CEO assessment aligns with the current lack of concrete action, making the initiative appear largely symbolic rather than market-moving.