A recent Polymarket poll shows 40% believe President-elect Trump might create a U.S. Bitcoin reserve, stirring debates on its role in national finances. With nearly 200,000 Bitcoins already held by the government, this move could boost the U.S.’s position in the global crypto market.
The concept of a Bitcoin reserve in the United States has pulled the discussion out of the cryptocurrency community and into wider circles, mainly fueled by the latest news and speculation.
Polymarket Poll of U.S. Bitcoin Reserve
A recent Polymarket poll discovered that 40% of respondents believed President-elect Donald Trump is going to create a national Bitcoin reserve-that alone may be the impetus for a change in the United States toward digital assets.
Polymarket is a decentralized prediction market. There, users can make guesses about real-world events by buying and selling shares. Current odds on the platform indicate that many people think the Trump administration might back Bitcoin as a strategic reserve asset.
This guess is consistent with what Trump said about Bitcoin before and also has support in a positive attitude towards crypto within his administration.
Proponents claim that the U.S. can gain a stronger position in the global cryptocurrency market and increase its financial plans by holding onto Bitcoin as a reserve asset.
U.S. Bitcoin Reserve Under Trump
Right now, the U.S. government has nearly 200,000 Bitcoins, worth billions, taken from various legal cases. Industry experts, like Alistair Milne from Altana Digital Currency Fund, suggest that even if Trump does not add more Bitcoin, he could create a “de facto” reserve just by not selling these assets.
If the government keeps these Bitcoins, it will influence how much Bitcoin is available and help make its price more stable.
Senator Cynthia Lummis recently proposed a bill that enables the government to purchase one million Bitcoins within five years. According to her, the reserve may help in paying off the country’s $36 trillion debt and making the U.S. dollar stronger.
The idea of a national Bitcoin reserve brings along very massive challenges. Jerome Powell, the head of the Federal Reserve, had rejected this proposal and said the current law prohibits the Federal Reserve from owning Bitcoins.
Such decisions should be taken by Congress, which would not agree with it because of the risks involved in price fluctuations and security with Bitcoins.
For all the risks taken on by taxpayers, critics say there are far too many of them to entrust Bitcoin as a reserve asset. Sure, Bitcoin has spiked in value this year, but its recent history of big price changes leaves much to be desired when it comes to how dependable it may be as a long-term reserve. To top it all off, hackers will certainly break into government-issued crypto wallets.
This concept of a bitcoin reserve is not something coming from America only. Bhutan and El Salvador have already placed Bitcoin in their national financial plans but on a much smaller scale.
Precisely for this reason, since the U.S. holds a lot of Bitcoin and is economically very powerful, it can set a trend which other countries may adopt later on.
There are many cryptocurrency supporters in Trump’s administration, which may help to create a Bitcoin reserve. This will be a huge step for Bitcoin if the plan goes through to become more of a financial tool.
According to the Polymarket poll, more people are interested in knowing how digital assets influence national money policies. It is still unclear whether the U.S. accepts a Bitcoin reserve, but the discussions point out that if kept and grown by the U.S., Bitcoin is becoming very important.
If Trump keeps and grows the U.S.’ Bitcoin reserves, then the cryptocurrency could be facing drastic change in status and purpose globally.
