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Bitcoin Reserve Could Reduce US Tax Debt, VanEck Points Out
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The investment company VanEck disclosed that, if the US Treasury acquires 1 million Bitcoinas future President Donald Trump suggested in the BITCOIN Act, this reserve could offset around 35% of the national debt by 2049.
During an event at the NYSE, Trump stated that the US should lead the cryptocurrency market, citing concerns about China. According to him, the national debt, expected to reach US$119.3 trillion, is growing at 5% per year. At the same time, the Bitcoin could reach $42 trillion common growth of 25% per year.
On the 12th, the future president of the USA, donald trumpdeclared support for the idea of creating a Bitcoin reserve. Creation would take place through a law known as the BITCOIN Act. The idea is to acquire up to 1 million Bitcoin by 2029.
At the NYSE event, one of the main American stock exchanges, Trump was asked whether the US could create a Bitcoin reserve similar to the Oil reserve. He replied:
US Bitcoin Reserve
Given this, the investment firm VanEck calculated that, if the government follows this trajectory, Bitcoin reserve could represent around 35% of national debt by 2049. In this way, the reserve would offset approximately 35% of the country’s debt, according to the firm.
This is because the debt of USA, which grows at a rate of 5% per year, would be worth around US$119.3 trillion in 2049. Meanwhile, Bitcoin would reach US$42 trillion.
The data was released by the company’s Head of Digital Asset Research, Matthew Sigel, on his X account. Along with the publication, Sigel presented a table showing the calculation numbers, with variables for whether Bitcoin appreciates more or less than the average of 25%. In a scenario of 30% growth per year, the United States’ 1 million BTC reserve would represent 91% of all public debt.
THE Bitcoin Act of 2024 is an initiative of Senator Cynthia Lummis.The goal is to strengthen the economic position of the United States in a scenario of growing inflation and risks of global dedollarization.
The proposal foresees that the US Treasury will acquire 1 million Bitcoin over five years, seeking to diversify the country’s financial reserves and promote the adoption of cryptocurrencies as a strategic tool in facing economic pressures.
Bitcoin Reserve Could Reduce US Tax Debt, VanEck Points Out
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Bitcoin Reserve Could Reduce US Tax Debt, VanEck Points Out
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Bitcoin Reserve Could Reduce US Tax Debt, VanEck Points Out
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Bitcoin Reserve Could Reduce US Tax Debt, VanEck Points Out
