Claim From Galaxy Digital Researcher: "The U.S. Government Will Soon Buy Bitcoin Without Spending Money," He Pointed To Altcoins!

In a bold prediction, Alex Thorn, Head of Corporate Research at Galaxy Digital, says that the United States government may soon start buying Bitcoin for a newly established strategic reserve.

Thorn’s comments were made in a recent interview in which he discussed the implications of the United States Digital Asset Stock Executive Order issued in March. The order prohibits the government from selling Bitcoin and instructs the Commerce and Treasury Departments to explore budget-independent ways to accumulate Bitcoin without using taxpayers’ money.

“At the end of last year, we predicted that they would hold on to Bitcoin but not buy it,” Thorn explained, adding: “But with the executive order, it became more reasonable for them to make an actual purchase.”

The order also prohibits the purchase of altcoins, leaving the management of these assets to individual departments. “You can sell an altcoin as a BTC pair and not touch the cash at all,” Thorn said, noting that the government may consider selling altcoins they already hold to fund Bitcoin purchases.

According to Thorn, the relevant departments were required to report on the government’s current Bitcoin holdings within 30 days of the order. Although the contents of this report have not been disclosed, Thorn believes that the report has already been submitted to the White House.

Fueling speculation, Treasury Secretary Carla Besson recently referred to Bitcoin as a “store of value,” a view echoed by proponents of the U.S. view of Bitcoin as a strategic asset, such as Bo Hines and David Sacks.

Thorn also acknowledged the difficulty of maintaining budget neutrality: “There are too many claims on the cash that goes into the general treasury. However, a clean solution could be to sell altcoins that have been quietly sitting in digital reserves, many of which even Congress doesn’t know exists.”