According to entrepreneur Mike Alfred, the United States is not expected to start adding Bitcoin
Speaking on a podcast released on November 18, Alfred said the government would likely move forward only after feeling pressure from global actions.
He explained that the US has created a reserve framework, but actual purchases would probably not begin right away. According to him, officials will act only “when there is enough pressure externally”.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is Yield Farming in Crypto? (Animated Explanation)
Alfred noted that seeing other countries build Bitcoin reserves could push the US to follow.
Alfred also expects Bitcoin to reach about $1 million per BTC by 2033. This is a slower timeline than the forecasts of ARK Invest CEO Cathie Wood and Coinbase CEO Brian Armstrong, who predict Bitcoin could reach similar prices around 2030.
By the time such prices are reached, Alfred noted that most governments will have some form of exposure to Bitcoin, either through direct ownership, partnerships, or financial systems.
He said it will likely be treated as a normal part of a country’s reserve assets, alongside gold and foreign currencies.
Alfred also noted that before Donald Trump’s presidency, it “seemed impossible that the government would even acknowledge Bitcoin”. He added that the US has come a long way since then.
Singapore Exchange’s derivatives arm, SGX Derivatives, is preparing to introduce new cryptocurrency futures in November. What did the agency say? Read the full story.
