Independeresidential candidate Robert F. Kennedy Jr. suggested that US authorities acquire 45% of the bitcoin supply. The amount at issue would be roughly $615 bln, which matches the value of the country's gold reserves. To obtain BTC reserves worth this amount, US authorities would need to buy 9.4 mln BTCs. Is this feasible? Why should it be done? Is it even possible to purchase such a quantity of bitcoins on the open market and if so, what would happen to its value?
This idea is feasible, but its implementation would require increased regulation and supervision – both for the circulation of cryptocurrency and for its storage. Therefore, this trend might be the opposite of what capital markets are counting on if Donald Trump comes to power in the US.
In addition, if 45% of the total BTC supply is assigned the status of currency reserves, questions would arise about the freedom of market reactions.
The fair price of bitcoin is another question that would inevitably arise. US authorities might want to buy below market value, a move that the market itself would definitely not approve of.
In other words, such a concept, at first glance, poses more risks than benefits.