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Wednesday Nov 19 2025 03:00
2 min
The US government is likely to hold off on accumulating Bitcoin for its strategic reserve until other nations take the initiative, according to crypto entrepreneur Mike Alfred. In a podcast published on Tuesday, Alfred stated that the US government would only begin allocating Bitcoin (BTC) to its reserve, established earlier this year, “when there is enough external pressure.”
“Once the US government recognizes that others are taking action before them, that’ll probably catalyze additional action in the future,” he elaborated, noting that the timeline for such action remains uncertain. This comes as industry figures increasingly advocate for the US government to expedite its Bitcoin accumulation to prevent its stockpile from lagging behind other nations.
Alfred expressed confidence that Bitcoin would reach a valuation of $1 million per coin by 2033, a more conservative projection than those of ARK Invest CEO Cathie Wood and Coinbase CEO Brian Armstrong, who foresee Bitcoin reaching seven figures as early as 2030.
“I think by the time that happens, almost every government will have some direct or indirect exposure to the asset, and it will be viewed as a common strategic reserve type of asset,” Alfred stated. President Donald Trump signed an executive order in March mandating the creation of a Strategic Bitcoin Reserve, utilizing budget-neutral approaches to acquire the cryptocurrency, though the plan has not yet been formally implemented.
In September, Galaxy Digital analyst Alex Thorn suggested there was a “strong chance” that the US would announce the formation of a Bitcoin reserve this year, “formally holding BTC as a strategic asset.” Alfred also remarked that it “seemed impossible that the government would even acknowledge Bitcoin before Trump.”
Other voices are urging the government to act more quickly. Jan3 founder Samson Mow told Cointelegraph in June that the US “has to start” acquiring Bitcoin this year or risk being “front-run” by nations such as Pakistan, which are also planning to acquire Bitcoin.
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