Bitcoin could reach a million dollars if the US buys a million BTC, according to the Bitcoin Policy Institute
The executive director of the Bitcoin Policy Institute, Matthew Pines, said that revenue from tariffs is budget neutral and can be used by the US government to buy Bitcoin.
An executive from the Bitcoin Policy Institute (BPI) raised a price scenario of Bitcoin at 1 million dollars if the United States bought 1 million BTC.
In a podcast by Bitcoin Magazine, Zach Shapiro, head of policy at the Bitcoin-focused think tank, BPI, said that the purchase of 1 million Bitcoin
by the United States would have a massive impact on the price of the asset.
If the United States announces that we are buying a million Bitcoin, that is simply a global seismic shock. I think, first, the price of Bitcoin skyrockets, said Shapiro. I think we would probably reach something like a million dollars per Bitcoin very quickly.”
The discussion followed the executive order of March 7 by US President Donald Trump, which establishes a Strategic Reserve of Bitcoin and a Digital Asset Reserve.
A “Bitcoin superpower” should have more Bitcoin
The executive director of BPI, Matthew Pines, said that other nations are watching how the United States positions itself with Bitcoin before formulating their own strategies.
The executive added that holding more Bitcoin is aligned with Trump’s promise to make the United States a Bitcoin superpower.
“If Donald Trump wants to fulfill his promise of being a Bitcoin superpower, it ultimately comes down to how much Bitcoin you have. This is a measure of how much the United States is fulfilling that rhetorical goal,” said Pines.
Trump’s executive order also instructs the secretaries of the Treasury and Commerce to develop “budget-neutral” strategies to acquire more Bitcoin and expand the reserve without additional burden on taxpayers.
