U.S. Cryptocurrency Task Force to Focus on National Bitcoin Reserves

According to Foresight News, a report by CoinDesk highlights that a U.S. cryptocurrency task force is prioritizing the establishment of national Bitcoin (BTC) reserves. This initiative could potentially trigger a global race among sovereign nations to acquire Bitcoin as a reserve asset. The report suggests that the Federal Reserve might fund Bitcoin purchases by issuing debt or selling part of its gold reserves. Additionally, the U.S. government may incorporate $20 billion worth of Bitcoin, previously seized from criminal organizations, into the national reserves. Bernstein's report also notes that the Trump administration had previously announced plans to create a sovereign wealth fund (SWF). This fund might consider major U.S. cryptocurrency companies and market leaders as strategic assets. Analysts recommend that investors prepare for the next bull market in Bitcoin and related stocks.