{"id":59699,"date":"2025-04-16T13:00:49","date_gmt":"2025-04-16T13:00:49","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=59699"},"modified":"2025-04-16T13:00:49","modified_gmt":"2025-04-16T13:00:49","slug":"bitcoin-at-1-million-bpi-says-one-us-move-could-make-it-happen","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=59699","title":{"rendered":"Bitcoin At $1 Million? BPI Says One US Move Could Make It Happen"},"content":{"rendered":"

In the latest installment of the \u201cBitcoin Policy Hour,\u201d a weekly podcast <\/a>produced by the nonprofit Bitcoin Policy Institute (BPI), leading members of the organization discussed how a single policy decision by the United States government might catapult the price of Bitcoin to extraordinary new highs.<\/p>\n

According to Executive Director Matthew Pines, the world\u2019s monetary framework has remained largely the same since 1973, when the global financial system pivoted away from a full gold standard<\/a>. \u201cWhen you think about the monetary system we currently live in,\u201d he said, \u201cit\u2019s been around since 1973 and gone through a number of crises and evolutions, but the fundamental structure of it really hasn\u2019t changed.\u201d He then pointed out that because nations such as China have emerged as industrial, military, and financial heavyweights, the stability of that long-standing dollar-based system is under challenge in ways not seen in decades.<\/p>\n

Head of Policy Zach Shapiro added that concerns about losing trust in the US dollar and its reserve asset\u2014the US Treasury security\u2014have fueled discussions around alternatives. \u201cIf you want to talk about what else could be a reserve asset,\u201d he said, \u201cgold is an obvious candidate.\u201d He added that since the United States froze Russia\u2019s Treasury reserves last year, \u201cthere has been a feeling from central banks around the world that treasuries are becoming less of a neutral reserve asset\u2026 and so foreign governments have been stacking gold.\u201d That could clear some runway for Bitcoin to replace or supplement gold\u2019s historic role\u2014especially if the Trump administration announces their first Bitcoin buy.<\/p>\n

When asked about the longstanding policy idea of \u201cmarking gold to market\u201d<\/a> and using the proceeds to buy Bitcoin, Shapiro explained that formally revaluing America\u2019s statutory gold price\u2014still set by law at around $42 per ounce even though world markets trade gold above $3,200\u2014could generate what he called a \u201clarge surplus on Treasury\u2019s books that we could then spend on stuff.\u201d He mentioned that if those proceeds were directed into Bitcoin, \u201cit would be a one-time trick that adds almost a trillion dollars to our balance sheet on paper. But why are we doing that and why do we think now is the time?\u201d<\/p>\n

Pines emphasized the global implications. \u201cThe gold certificates are a subplot in this larger strategic competitive dynamic,\u201d he said, referencing ongoing trade friction and technology restrictions between the US and China. \u201cWhen you have the great powers of the world deciding they\u2019re going to up the ante against each other, you\u2019ll see moves in many domains: tariffs, export controls, currency systems, and yes, monetary assets such as gold and Bitcoin.\u201d<\/p>\n

Discussion then turned to a White House executive order issued in March<\/a> that formalized the Strategic Bitcoin Reserve and instructed agencies to conduct a Bitcoin audit, with results due to the President\u2019s Working Group on digital assets. Pines noted that \u201cit literally said Bitcoin is digital gold, is in our strategic interest, and that we need a strategic Bitcoin reserve,\u201d even though, in his words, \u201cpeople outside the US government at first questioned whether that was real or just a campaign promise.\u201d<\/p>\n

Shapiro confirmed the White House did indeed require each agency to identify which digital assets it currently owns from forfeiture or other means. \u201cBy statute, they had thirty days to do this,\u201d he explained. \u201cBut that report goes to the Secretary of the Treasury and the President\u2019s Working Group, not necessarily the public.\u201d<\/p>\n

While the White House order also urged budget-neutral methods of acquiring new Bitcoin, no single agency has yet outlined exactly how they intend to do it. Both Pines and Shapiro said that internal government debates, as well as confusion about what \u201cbudget neutral\u201d means, might slow implementation. \u201cIt can\u2019t impact other budget line items,\u201d said Shapiro. \u201cBut tariffs, for instance, are not something that costs the American taxpayer money directly, and that\u2019s one way that\u2019s been floated to raise funds for Bitcoin. Selling assets already on the government\u2019s balance sheet is another. That\u2019s budget neutral too.\u201d<\/p>\n

If the Trump administration does indeed buy Bitcoin, the price implication could be massive, according to the BPI. Shapiro stated: \u201cIf the United States announces that we are buying a million Bitcoin, that\u2019s just a global seismic shock. I think that really is a big deal. I think first the Bitcoin price goes through the roof. I think we will probably go very quickly to something like a million dollars per Bitcoin.\u201d<\/p>\n

However, the geo-political could be even greater, Shapiro added: \u201cThen you have to wait and see what sort of dominoes fall from that. What are the second order effects of Bitcoin, just being monetized on a faster trajectory than I think a lot of people anticipate. The first is a sort of reaction from other nation states\u2019 reactions [\u2026] I suspect that Bitcoin being monetized that strongly and that quickly would have a negative impact on sort of the long-term outlook for gold.\u201d<\/p>\n

At press time, BTC traded at $83,594.<\/p>","protected":false},"excerpt":{"rendered":"

In the latest installment of the \u201cBitcoin Policy Hour,\u201d a weekly podcast produced by the nonprofit Bitcoin Policy Institute (BPI), leading members of the organization discussed how a single policy decision by the United States government might catapult the price of Bitcoin to extraordinary new highs. According to Executive Director Matthew Pines, the world\u2019s monetary […]<\/p>\n","protected":false},"author":0,"featured_media":59700,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-59699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/59699"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59699"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/59699\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/59700"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}