US Cryptocurrency Task Force Focused on the Provision of the National Bitcoin Reserve: Bernstein
US Cryptographic Task Force Focus on starting the nation Bitcoin (BTC) Reservea move likely to promote similar efforts around the world, broker Bernstein said in a research report on Monday.
“The creation of the US Bitcoin Reserve could lead to a global race among sovereigns, allowing Bitcoin to be purchased as one of the reserve assets,” analysts led by Gautam Chhugani I am writing.
The formation of strategic reserves raises many structural issues, the report said.
Will the US Federal Reserve or the Treasury purchase Bitcoin? If the Fed requires legislative approval, the report noted.
How do I buy a Fed Fund Cryptocurrency? Bernstein said he could issue debts and sell some of his gold reserves.
The US government could add $20 billion in Bitcoin seized from criminal companies to its national reserves, the report added.
The broker is also the Trump administration Creating a Sovereign Wealth Fund (SWF).
Such a fund would “be considered a strategic asset owning major US crypto companies/market leaders,” Bernstein said. “Investors need to position themselves in the next leg of the bull market, beyond Bitcoin and Bitcoin-linked stocks.”