US Government, Will They Sell Altcoins To Accumulate Bitcoin?

The United States government is reviewing various ways to increase its Bitcoin holdings by utilizing altcoin sales and tariff strategies. The blockchain specialized media outlet Coinpost reported on the 21st (local time) that the United States is further detailing its cryptocurrency strategy than before.

Alex Sohn, head of Galaxy Digital Research, mentioned on his X (formerly Twitter) account that "there is a possibility that the United States government will purchase Bitcoin as a strategic reserve within this year." He proposed the "strategy of exchanging altcoins held by the government for Bitcoin" as the most viable method for the United States to secure Bitcoin without taxpayer burden.

Sohn evaluated that disposing of some of the already-secured altcoins by the government to secure Bitcoin is the most feasible method. This method allows maintaining budget neutrality as it is conducted through cryptocurrency transactions without using cash directly.

Previously, President Donald Trump signed an executive order in March to strategically stockpile some of the confiscated cryptocurrencies by the federal government in the form of Bitcoin. Accordingly, the Department of the Treasury and the Department of Commerce are seeking practical ways to secure Bitcoin without allocating a new budget.

In this regard, the federal government has instructed departments to report the status of the United States government's digital assets and Bitcoin holding plans to the Department of the Treasury. Investors are focusing on whether the government's digital asset management strategy will actually lead to Bitcoin purchases.