According to TheStreet, the U.S. government's proposal to purchase 1 million bitcoins over the next five years has sparked widespread discussion. This initiative could not only affect the U.S. market but could also lead the development of cryptocurrencies worldwide. Experts point out that this will have a chain reaction on governments, institutions, and sovereign wealth funds, and may elevate bitcoin to a strategic asset status similar to gold.
The market is anticipated to witness a surge in demand for bitcoin, with businesses and investors entering the market in droves. This move could lead large companies to include bitcoin on their balance sheets, further driving demand growth. Experts believe that this proposal may have a more profound impact than that of a bitcoin ETF, contributing to the widespread application of cryptocurrencies in the financial sector.
As for the price of bitcoin, it is expected to rise significantly in the coming years, but specific numbers are difficult to predict. As governments incorporate cryptocurrencies into their strategic considerations, this proposal is expected to become a milestone in the integration of cryptocurrencies into the global financial system.
