Authored by Ciaran Lyons via CoinTelegraph.com,
Galaxy Digital’s Alex Thorn says the market is "underpricing" the odds of a US Strategic Bitcoin Reserve forming this year, though others are skeptical.
There is a high likelihood that the United States government will form the highly anticipated Strategic Bitcoin Reserve by the end of this year, says Galaxy Digital’s head of firmwide research, Alex Thorn.
However, other industry executives are less confident.
“I still think there’s a strong chance the US government will announce this year that it has formed the strategic Bitcoin reserve (SBR) and is formally holding BTC as a strategic asset,” Thorn said in an X post on Thursday.
“Market seems to be completely underpricing the likelihood of such an announcement,” Thorn added.
While US President Trump signed the executive order officially establishing the Strategic Bitcoin Reserve and US Digital Asset Stockpile in March, a formalized strategic plan has not been confirmed yet.
Source: Alex Thorn
However, several recent developments suggest that the plan is still progressing.
On Tuesday, US lawmakers introduced a bill directing the US Treasury to examine and produce a report on the feasibility and technical considerations of the Strategic Bitcoin Reserve.
Meanwhile, on July 31, Cointelegraph reported that Trump’s crypto liaison confirmed that the administration is still keen on a strategic Bitcoin reserve, despite only briefly mentioning it in its recently published crypto policy report.
Not all crypto market participants agree it will happen so soon, however. CoinRoutes’ former chairman, Dave Weisburger, said it is more likely to happen in 2026.
Weisburger added that he has “made the point many times that this administration is too smart to announce ANYTHING until AFTER they accumulate to their initial target.”
Some prominent Bitcoin advocates worry that the US could fall behind if they delay accumulating Bitcoin any further.
Jan3 founder Samson Mow told Magazine in June that the US “has to start” acquiring Bitcoin this year, or risk other countries beating them to it. “The risk is that the US is front-run by Pakistan,” he said.
On Wednesday, Kyrgyzstan, a key emerging player in Central Asia’s crypto market, advanced a bill to establish a state cryptocurrency reserve.
Meanwhile, on Aug. 6, Indonesian Bitcoin advocate group, Bitcoin Indonesia, said they recently met with Indonesian officials to discuss how the strategy could drive economic growth in the country.