US Uncertain About Buying Bitcoin for Strategic Reserve in Near Future

Bitget CEO Gracy Chen believes that the US government is unlikely to start buying Bitcoin for its strategic reserve within the next two years. The existing reserve mainly holds Bitcoin obtained through forfeiture, and any active purchase program would require significant policy changes and political debate.

According to Chen, such a move would necessitate budget-neutral funding strategies, which are currently not authorized by the executive order. This order prohibits selling reserve Bitcoin but does not permit new purchases, effectively limiting market supply without creating demand.

Chen emphasizes that Congressional approval would be needed for any large-scale Bitcoin acquisition program, keeping the reserve's future uncertain for investors.