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US Won’t Build Bitcoin Reserve Until Other Nations Act, Says Mike Alfred
Will the US Form a Bitcoin Reserve in Time? Crypto entrepreneur Mike Alfred believes the US government won’t begin accumulating Bitcoin (BTC) for its newly created strategic reserve until foreign governments take the lead—despite growing pressure from industry voices urging Washington to act swiftly.
External Pressure Could Trigger US Bitcoin Purchases
Speaking on a podcast released Tuesday, Alfred said the US will likely start placing Bitcoin into the reserve “when there is enough pressure externally.” According to him, American officials may only accelerate their strategy once they recognize that other nations are making meaningful moves ahead of them.
“Once the US government recognizes that others are taking action before them, that’ll probably catalyze additional action in the future,” he explained, though he noted the timeline remains uncertain.
His comments come as several prominent figures in the crypto industry warn that the US risks falling behind if it doesn’t expand its holdings.
Bitcoin at $1M Could Become Normal for Governments
Alfred also said he expects Bitcoin to reach $1 million per coin by 2033, a forecast he describes as conservative when compared with predictions from ARK Invest CEO Cathie Wood and Coinbase CEO Brian Armstrong, who see seven-figure valuations arriving as early as 2030.
By the time Bitcoin reaches that level, Alfred believes that “almost every government” will hold BTC directly or indirectly as a strategic asset.
Strategic Bitcoin Reserve Still Not Established
Earlier this year, US President Donald Trump signed an executive order to create a Strategic Bitcoin Reserve, designed to acquire BTC through “budget-neutral” mechanisms. However, the initiative has yet to be formally implemented.
In September, Galaxy Digital analyst Alex Thorn said there was a “strong chance” the US would announce an established Bitcoin reserve before the end of the year.
Concerns Over Being ‘Front-Run’ by Other Nations
Alfred noted that it once seemed “impossible that the government would even acknowledge Bitcoin before Trump,” but believes significant progress has been made in a short time.
Still, some argue the US is moving too slowly. Samson Mow, founder of Jan3, warned in June that the US “has to start” acquiring Bitcoin this year or risk being “front-run” by countries like Pakistan, which are exploring their own government-level BTC accumulation strategies.
