15 States in the U.S. Plan to Establish Bitcoin Reserves: What Secrets Lie Behind?
In January 2025, Texas and Oklahoma also submitted relevant proposals, further promoting the development of this plan.
Experts have differing opinions on this plan. Some experts strongly oppose it, such as Professor Arash Aloush from Dublin City University in Ireland, who points out that the market value of Bitcoin is limited and cannot provide the stability and investment capability required for reserve assets. Large-scale purchases of Bitcoin would not only drive up prices but could also distort the market. On the other hand, some experts are supportive, such as Gui Songping, a senior manager at 'New Blockchain,' who believes that the U.S. government's establishment of a Bitcoin strategic reserve fund will become a powerful catalyst for driving up Bitcoin prices.
However, this plan faces many challenges during its advancement. From a legal standpoint, the Federal Reserve Act clearly defines the assets that the Federal Reserve can hold, and the characteristics of Bitcoin make it difficult to meet those requirements. Additionally, Bitcoin's price is highly volatile, posing much greater risks compared to traditional stable reserve assets. Furthermore, Bitcoin's anonymity presents significant challenges for regulation, and the existing cryptocurrency regulatory framework in the U.S. is still incomplete. To incorporate Bitcoin into the national reserve system, a more comprehensive legal framework needs to be established. Therefore, the Bitcoin strategic reserve plan of these 15 states is filled with uncertainties in the future.
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