The United States may pursue the acquisition of 500,000 Bitcoin as part of a strategic reserve initiative, according to SkyBridge’s Scaramucci.
Anthony Scaramucci, SkyBridge co-founder, has suggested that the U.S. may allocate resources to acquire 500,000 Bitcoin. Notably, President-elect Donald Trump supports the 1 million Bitcoin reserve initiative proposed by Senator Cynthia Lummis.
In an interview on the Bankless podcast, Scaramucci added to the discussion, suggesting the U.S. could acquire 500K BTC more for the reserve initiative.
He emphasized the role of influential lawmakers, particularly Senator Tim Scott, who will soon chair the Senate Banking Committee. Scott is expected to leverage his position to advance the proposal within Congress.
However, this plan is not solely supported by Republican leaders. Bipartisan backing for cryptocurrency-related legislation, as seen in the approval of the SAB 121 Bill, indicates growing interest among lawmakers across the aisle. Notably, younger Democrats have shown openness to adopting Bitcoin as a strategic asset, contrasting with skepticism from more traditional voices in the party.
Bitcoin’s Role as Digital Gold
Bitcoin’s positioning as “digital gold” has been a focal point in this discussion. Scaramucci highlighted that the U.S. already holds significant gold reserves, valued at over $600 billion.
According to the interviewer and co-founder of Bankless, Ryan Sean Adams, incorporating Bitcoin, potentially through reallocating a portion of these gold reserves, could be “wild.”
The global context surrounding this proposal adds urgency to the conversation. Scaramucci pointed to China’s reported Bitcoin accumulation as a key factor prompting the U.S. to act. As economic rivals like China integrate Bitcoin into their financial systems, delays by the U.S. could risk diminishing its influence in global markets.
Still too Early to Buy Bitcoin
The SkyBridge co-founder has previously emphasized that it is still an opportune time to invest in Bitcoin, even as it approaches widespread adoption. On November 12, he shared on social media that non-Bitcoin holders have not missed significant opportunities amid the asset’s historic surge in value.
Scaramucci highlighted that while some investors may feel sidelined, Bitcoin still holds potential for further growth. He underscored that the cryptocurrency has room to expand as it progresses toward mainstream acceptance.
Scaramucci also noted the potential for the U.S. move to influence central banks, financial institutions, and asset managers globally. If implemented, this plan could draw significant capital into Bitcoin.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
