U.S. May Start Buying Bitcoin in 2025, Says Galaxy Digital Research Head

Alex Thorn, who leads research at Galaxy Digital, shared his outlook on the U.S. potentially deepening its involvement with Bitcoin by formally building a Strategic Bitcoin Reserve.

The United States may begin buying Bitcoin (BTC) as early as 2025, according to Alex Thorn, the Head of Research at Galaxy Digital.

In an interview with Bloomberg Crypto, Thorn discussed the possibility of the U.S. formally creating a Strategic Bitcoin Reserve. He noted that the government already seizes Bitcoins but that there might be more active purchases of BTC from as early as next year.

Earlier in 2023, an executive order was issued to create a digital asset stockpile strategy. The order also barred the sale of existing Bitcoin holdings and instructed the Commerce and Treasury departments to explore methods for acquiring more Bitcoin without affecting the federal budget. The same order restricted purchases of altcoins and delegated their oversight to specific agencies.

However, Thorn highlighted a broader shift in sentiment within key parts of the administration. He pointed out that Treasury Secretary Scott Bessent has been discussing Bitcoin openly as a store of value, while figures like Bo Hines and David Sachs continue to advise on digital asset policy.

To elaborate on how the U.S. could accumulate more Bitcoin without impacting public funds, Thorn suggested a scenario where altcoins from the digital asset stockpile are converted into Bitcoin using trading pairs, circumventing the need for fiat currency in the process.

This approach, he explained, would enable the government to expand the Bitcoin reserve in accordance with its budget-neutral commitment.