Broker Bernstein, who issued a new research report on the crypto currency market, said that the US crypto task force focuses on selling gold and creating a national Bitcoin reserve. According to the report, this step can trigger similar initiatives globally. However, there are some critical questions in front of creating a strategic reserve.
Will the Fed sell gold and get BTC?
Bernstein analysts, especially Gautam Chhugani -led team, said the Bitcoin bull market will enter a new stage and this process will be supported by several important factors. Asset management company advised investors to take positions in shares connected to Bitcoin and Bitcoin.
In the report, important questions about the role of the US Federal Bank (FED) or the Treasury Ministry of Treasury on the purchase of Bitcoin were brought to the agenda. If the Fed is included in the process, congress approval may be required for this. In addition, how these purchases will be financed is discussed. According to Bernstein, it is suggested that the FED can export debt to finance these purchases or to sell crypto currency by selling gold reserves. However, it is also stated that the US government can consider Bitcoin of 20 billion dollars of criminal organizations as part of the national reserve.
Strategic Investment Plan for US crypto companies
Recently, the Egemen Asset Fund (SWF) plan, which was brought to the agenda by the Trump administration, was also discussed in the report. Bernstein said such a fund can invest in the United States by evaluating leading crypto currency companies and market leaders as strategic assets. Analysts emphasized that the 13F notifications published by the US Securities and Stock Exchange Commission (SEC) are one of the main factors supporting the rise in the Bitcoin market. Abu Dhabi’s sovereign asset fund Mubadala’s 437 million dollars of Spot Bitcoin Etf investment, Goldman Sachs, Barclays and Paul Tudor Jones’un Bitcoin assets drew attention.
In addition, the report was listed as Microstrategy’s Bitcoin purchase of 742 million dollars, strong ETF inputs and SAC’s SAB 121 decision and allowing banks to hide crypto currency and other elements supporting the bull market. The US’s Bitcoin reserve creating race is becoming increasingly accelerating. Currently, 21 states have submitted laws of laws that envision to invest public funds to Bitcoin. The states such as Arizona, Texas, Illinois and Utah are taking concrete steps to add Bitcoin to their treasures. According to Vaneck, if these laws are adopted, a demand for $ 23 billion may occur to Bitcoin.
