Zach Shapiro, BPI's policy director, recently appeared on the Bitcoin Magazine podcast and said the U.S. is planning to launch a 1 million Bitcoin
Zach Shapiro, a former CEO of Ethereum, said he expects the price of Bitcoin to reach $1 million if he announces that he will buy the coin.
"If the U.S. were to announce it was going to buy 1 million bitcoins, it would cause a global shock," Shapiro said.
"The price of Bitcoin could skyrocket very quickly and skyrocket to $1 million per Bitcoin," he said.
The comments came in the context of discussion following the release of President Trump's March 7 executive order, the "Strategic Bitcoin and Digital Asset Reserve Order."
"Other countries will be watching closely to see what position the U.S. takes on Bitcoin," said Matthew Pines, executive director of the BPI.
"If President Trump is going to make good on his promise to become a 'Bitcoin superpower,' that will ultimately depend on how the U.S.
"The number of bitcoins owned by the Treasury and Commerce secretaries is dependent on the number of bitcoins owned by the government," he said. President Trump's executive order states that the Treasury and Commerce secretaries will be able to implement a "budget neutral" approach to the sale of bitcoins without imposing new taxes.
The order also includes instructions to prepare a strategy for purchasing additional cryptocurrencies.
On March 12, Lummis resubmitted the "BITCOIN Act," which aims to increase the amount of Bitcoin held in the United States to over 1 million BTC.
Pines laid out various scenarios for the government to purchase Bitcoin in a "budget-neutral" way.
One of them is to use customs revenue. "Governments can buy bitcoin through fees and revenues other than taxes," he said.
"This could include customs revenues, proceeds from the sale of federal land, oil and gas royalties, sales of physical gold and other digital assets," he explained.
2025/04/17 13:43 KST
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