- Howard Lutnick confirms the U.S. has established a Bitcoin Strategic Reserve, though full details remain pending.
- Commerce Secretary Lutnick suggests Bitcoin could eventually be tracked like gold in U.S. economic data reports.
- Bitcoin holds near $94,300 as traders monitor signs of formal Bitcoin adoption by the U.S. government.
April 29 marks 100 days since President Donald Trump took office for his second term, and many in the crypto world are watching closely. Some experts believe that if Trump announces a U.S. Bitcoin reserve, it could send Bitcoin prices soaring toward $100,000. Prediction market Polymarket gives it just a 6% chance, but with only one day left, the big question is: Will Trump make the move before time runs out?
What’s Happening With the Bitcoin Reserve?
In a recent chat with Bitcoin Magazine, U.S. Secretary of Commerce Howard Lutnick offered some intriguing insights about Bitcoin and how it might soon have a bigger role in America’s economy. One of the most interesting parts of the conversation was about the U.S. government’s Bitcoin Strategic Reserve. While Lutnick couldn’t reveal how much Bitcoin the U.S. holds or exactly how it’s being managed, he confirmed that when the time is right, those details will be shared with the public.
He said this reserve was created to show support for the Bitcoin community and to keep a promise made by Donald Trump during his term. “We set up the Bitcoin reserve to show that this administration supports Bitcoin and its community,” Lutnick added.
Related: Altseason Looms as Bitcoin Holds $90K and Analysts Spot Classic Breakout Signals
“We all know that the United States of America and Donald Trump are trying to reset global trade to make it more fair for America. Right now, he’s off trying to create peace in the world… then I think after that, I think we can put Bitcoin back on the agenda,” he said.
Lutnick also took time to highlight how, during the previous administration, owning or trading Bitcoin felt like doing something wrong. But things have changed explaining that once America accepts something, it rarely turns away from it.
Could Bitcoin Become Part of Official U.S. Economic Data?
Another interesting angle Lutnick discussed is the idea of including Bitcoin holdings in America’s official economic indicators, like GDP and trade balances.
Lutnick said it’s a good idea and something worth exploring. “It would be interesting to start keeping track of Bitcoin the same way we track gold,” he said. At the time of writing, Bitcoin is trading at $94,329.
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