Galaxy Research has projected that the United States government will not purchase Bitcoin in 2025. Instead, it plans to safeguard its current holdings, which amount to approximately 183,850 BTC worth $17.36 billion, according to blockchain analytics firm Spot on Chain.

Alex Thorn, head of research at Galaxy, stated in a December 27 report that the U.S. will focus on discussions surrounding a Bitcoin reserve policy rather than actively acquiring more Bitcoin. This policy could pave the way for increased government involvement in Bitcoin storage and strategy without immediate purchases.

The proposed Bitcoin Act 2024, introduced by Wyoming Senator Cynthia Lummis, aims to establish Bitcoin as a reserve asset. If passed, it would enable the U.S. government to acquire 200,000 BTC annually over five years, creating a stockpile of 1 million Bitcoin held for at least two decades. This bold plan could dramatically shift global perspectives on Bitcoin adoption.

Galaxy analyst "JW" suggested that other nations and large corporations might follow suit. He speculated that up to five Nasdaq 100 companies and five nation-states could add Bitcoin to their balance sheets or sovereign wealth funds. JW also noted that a more assertive U.S. stance could trigger a competitive global race to mine or acquire Bitcoin, particularly among unaligned or adversarial nations.

The international response remains mixed. Japan’s Prime Minister Shigeru Ishiba expressed reservations, citing a lack of clarity on the U.S.’s stance. However, former Binance CEO Changpeng Zhao speculated that smaller nations might be the first to adopt Bitcoin reserves, though such a shift would be gradual.

As the debate unfolds, all eyes are on whether the U.S. will lead or lag in the global Bitcoin race.