#USJobsSurge256K US Bitcoin reserve would have ‘profound’ impact on adoption: CoinShares
A US strategic Bitcoin reserve would drive adoption more than the 2024 Bitcoin ETF launches, CoinShares argued in a Jan. 10 blog post. The proposed Bitcoin Act aims to have the US Treasury acquire 1 million BTC over five years, endorsed by President-elect Donald Trump but not yet law.
CoinShares noted that institutional investors remain hesitant due to Bitcoin’s credibility concerns. Passing the Bitcoin Act would address this stigma by signaling official endorsement from the US government.
Gaining momentum
The Bitcoin Act, introduced by Senator Cynthia Loomis in July, gained traction after Trump’s Republican party secured Senate control in November. Some states, like New Hampshire and North Dakota, are also considering BTC reserve bills.
This follows the January 2024 approval of nearly a dozen spot Bitcoin ETFs, which amassed $100 billion in net assets by November. Analysts expect an additional $48 billion in inflows to these ETFs in 2025.
Increased institutional interest could create demand shocks, with asset manager Sygnum Bank predicting a price surge in 2025. Blockstream CEO Adam Back suggested the Bitcoin Act could push BTC’s price past $1 million per coin.
CoinShares believes such initiatives, combined with global adoption, would unlock even greater asset flows into Bitcoin in the years ahead.