Bitget CEO Gracy Chen does not anticipate the Bitcoin strategic reserve to materialize in the first half of 2025 but noted ongoing progress on the subject.
The potential inclusion of Bitcoin in the U.S. strategic reserve is under evaluation, with ongoing discussions among government officials.
Chen recently addressed this topic in an interview with Bloomberg. She acknowledged that the new administration, under President Donald Trump, is assessing the feasibility of such a move. However, no official decision has been reached, and timelines remain uncertain.
Chen stressed that the discussions remain exploratory, with no formal commitment expected in the short term. She cautioned against anticipating any concrete developments in early 2025 or throughout the year.
Trump’s crypto Czar, David Sacks, also confirmed that the administration is considering the concept but has not reached a conclusion. In an appearance on FOX Business, he stated that President Trump has instructed officials to study the matter, but no definitive timeline has been provided.
Drivers Beyond the Bitcoin Halving
Regarding catalysts for Bitcoin price movement, Chen noted that the 2024 Bitcoin halving was not expected to serve as a primary catalyst, given that it had already been priced in. Instead, she pointed to unexpected events as key drivers for price movements.
Meanwhile, Chen emphasized that potential monetary policy changes in the U.S., particularly interest rate cuts and fiscal policy shifts, could significantly impact the market.
The influence of high-profile figures in the crypto industry remains a relevant factor. Chen referenced Elon Musk’s role in Dogecoin’s market movements, noting that non-political figures have historically affected crypto sentiment.
She also drew a comparison between Musk and Trump, suggesting that both exhibit business-oriented leadership styles that could drive market changes.
Texas Advances Bitcoin Reserve Plan
While federal discussions remain in the exploratory phase, individual states are moving forward with their own Bitcoin initiatives. The Texas Senate recently held a public hearing on a proposal to establish a Strategic Bitcoin Reserve.
The hearing, held on February 18, examined the potential allocation of state funds into Bitcoin as part of a broader diversification strategy. The initiative follows the introduction of Senate Bill 21, formally titled the Texas Strategic Bitcoin Reserve and Investment Act.
Senator Charles Schwertner sponsored the bill to position Texas as a leader in state-level Bitcoin adoption. The bill reached the Senate’s secretary less than a week before the hearing, indicating momentum behind the legislative process.
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