Mike Alfred states the US will wait to build a Bitcoin reserve until other countries act, despite growing global interest.
Mike Alfred, a crypto entrepreneur, stated that the US government will not begin accumulating Bitcoin for its strategic reserve until other countries take action.
He explained that the US will likely wait until there is “enough pressure externally” to motivate a move. This delay highlights the cautious approach of the US government toward Bitcoin acquisition, even as other nations are making moves in this direction.
US Government’s Delayed Bitcoin Strategy
Mike Alfred recently shared his thoughts on the US government’s delay in acquiring Bitcoin for its strategic reserve. He mentioned that the government is not expected to take action until it sees other countries moving forward first.
Alfred believes that the US will likely follow the lead of other nations when the pressure becomes significant enough.
This approach is in line with previous comments by industry leaders who have urged the US to act faster in securing Bitcoin. Alfred noted that the timeline for the US to act is still uncertain.
His comments come at a time when Bitcoin’s value continues to rise, and nations are beginning to explore Bitcoin as a strategic asset.
In March, US President Donald Trump signed an executive order to create a Bitcoin reserve. However, there has been no official progress in implementing this plan. This delay has raised questions about whether the US is moving too slowly in the face of growing global interest in Bitcoin.
Global Competition and the Pressure on the US
The growing interest from other nations in accumulating Bitcoin has increased the pressure on the US.
Alfred pointed out that several countries are already taking steps to acquire Bitcoin, and the US risks falling behind. As more countries view Bitcoin as a potential strategic asset, the urgency for the US to act is becoming clearer.
Samson Mow, founder of Jan3, warned that the US must start acquiring Bitcoin soon or risk being “front-run” by other nations.
Countries like Pakistan are also considering Bitcoin as part of their strategic reserves. As nations secure Bitcoin, the US could find itself at a disadvantage if it delays much longer.
Alfred also shared his prediction that Bitcoin could reach $1 million per coin by 2033.
He believes that by this time, most governments will hold Bitcoin either directly or indirectly. This expectation adds to the pressure on the US government to accelerate its Bitcoin acquisition plans.
Related Read: The Average ETF Investor Is Now At A Loss As Bitcoin Price Slides Further
The Uncertain Future of the US Bitcoin Reserve
Despite the growing pressure, the US government’s Bitcoin reserve plans remain unclear.
Galaxy Digital analyst Alex Thorn had predicted that the US would likely announce the creation of a Bitcoin reserve soon. However, the details of this plan and the timeline for its implementation are still uncertain.
Alfred emphasized that the US government must act before it is too late. He argued that delaying too long could result in other countries gaining a strategic advantage.
As Bitcoin’s role in the global financial system grows, the US may face challenges in catching up if it waits too long.
The discussion around the US Bitcoin reserve is ongoing, with many industry leaders urging faster action. As global interest in Bitcoin continues to rise, the pressure for the US government to secure Bitcoin as a strategic asset will likely increase.
Whether the US can overcome its hesitancy and move quickly remains to be seen.
