- Bitcoin Magazine CEO David Bailey says the Bitcoin Strategic Reserve Act is progressing faster than expected
- He measured the implementation timeline in weeks rather than months or years
- President Donald Trump signed the executive order establishing a Bitcoin-only reserve last week
The pace of implementing the U.S. Bitcoin Strategic Reserve Act is quicker than market expectations, according to Bitcoin Magazine CEO David Bailey.
Bailey posted on X that the timeline is days and weeks, not months or years. This shows that government officials are acting swiftly to establish a Bitcoin reserve. “The administration is ‘moving at the speed of tech’ and ‘acting with urgency,” Bailey wrote.
This development follows President Donald Trump’s signing of an executive order for crypto last week. This signing officially establishes the U.S. Crypto Reserve, comprising a Bitcoin-only reserve and a national stockpile for altcoins.
Related: Donald Trump Makes It Official: Strategic Bitcoin Reserve, Altcoin Stockpile Is Law
Trump’s Executive Order: Bitcoin Strategy
President Trump’s executive order introduces a long-term strategy for integrating Bitcoin and other cryptocurrencies into the national financial system.
According to David Sacks, the White House Crypto Czar, this reserve will not use taxpayer funding. It will be funded using the nearly 200,000 BTC the U.S. government acquired through criminal forfeiture. This is currently valued at approximately $17 billion.
The plan directs Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick to explore budget-neutral ways to acquire more Bitcoin without using taxpayer money. One proposal under consideration suggests selling a portion of the U.S. gold reserves to increase the nation’s Bitcoin holdings.
National Altcoin Stockpile Details
Beyond the Bitcoin reserve, the executive order also mandates the creation of a national stockpile for altcoins. This reserve will focus on Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA), which Trump specifically named in a prior speech.
The U.S. government currently holds 56,035 ETH, valued at approximately $120.96 million, along with additional holdings in various altcoins and stablecoins.
While the government does not yet own XRP, Solana, or Cardano, there are discussions about converting some of its existing altcoin holdings into these cryptocurrencies.
Related: Peter Schiff: Bitcoin’s 30% Price Crash Makes US Government’s Reserve “Rationale Hard to See”
Bitcoin Market Impact and Outlook
The faster timeline could impact Bitcoin’s market dynamics, potentially increasing institutional demand. Bitcoin is trading at $81,659, up 1.6% in the past day, reducing its weekly loss to 6.2%.
Meanwhile, XRP has also risen 2.6% over the same time, while Solana, Ethereum, and Cardano’s prices have seen a minimal price drop, continuing their price declines.
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