<div id="readability-page-1"><div>Authored by Ciaran Lyons via CoinTelegraph.com,Galaxy Digital’s Alex Thorn says the market is &#34;underpricing&#34; the odds of a US Strategic Bitcoin Reserve forming this year, though others are skeptical.<img height="333" width="500" src="https://imageproxy.pbkrs.com/https://assets.zerohedge.com/s3fs-public/styles/inline_image_mobile/public/inline-images/0194e2d4-4c76-7783-9ce0-9af5618b.jpg/query-aXRvaz11aXlXQVVaYQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://assets.zerohedge.com/s3fs-public/styles/inline_image_mobile/public/inline-images/0194e2d4-4c76-7783-9ce0-9af5618b.jpg/query-aXRvaz11aXlXQVVaYQ"/>There is a high likelihood that the United States government will form the highly anticipated Strategic Bitcoin Reserve by the end of this year, says Galaxy Digital’s head of firmwide research, Alex Thorn.However, other industry executives are less confident.“I still think there’s a strong chance the US government will announce this year that it has formed the strategic Bitcoin reserve (SBR) and is formally holding BTC as a strategic asset,” Thornsaidin an X post on Thursday.“Market seems to be completely underpricing the likelihood of such an announcement,” Thorn added.<h2>Several developments hint that the plan is moving forward</h2>While US President Trumpsigned the executive orderofficially establishing the Strategic Bitcoin Reserve and US Digital Asset Stockpile in March, a formalized strategic plan has not been confirmed yet.<img height="246" width="500" src="https://imageproxy.pbkrs.com/https://assets.zerohedge.com/s3fs-public/styles/inline_image_mobile/public/inline-images/0199418e-6041-796a-8c01-96fec3c7.jpg/query-aXRvaz12bWtuYzFLMg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://assets.zerohedge.com/s3fs-public/styles/inline_image_mobile/public/inline-images/0199418e-6041-796a-8c01-96fec3c7.jpg/query-aXRvaz12bWtuYzFLMg"/>Source:Alex ThornHowever, several recent developments suggest that the plan is still progressing. On Tuesday, US lawmakers introduceda bill directingthe US Treasury to examine and produce a report on the feasibility and technical considerations of the Strategic Bitcoin Reserve.Meanwhile, on July 31, Cointelegraph reportedthat Trump’scrypto liaison confirmed that the administration is still keen on a strategic Bitcoin reserve, despite only briefly mentioning it in its recently published crypto policy report.Not all crypto market participants agree it will happen so soon, however. CoinRoutes’ former chairman, Dave Weisburger,saidit is more likely to happen in 2026.<h2>Some Bitcoiners fear that the US stalling could push them behind</h2>Weisburger added that he has “made the point many times that this administration is too smart to announce ANYTHING until AFTER they accumulate to their initial target.”Some prominent Bitcoin advocates worry that the US could fall behind if they delay accumulating Bitcoin any further.Jan3 founder Samson Mowtold Magazine in June thatthe US “has to start” acquiring Bitcoin this year, or risk other countries beating them to it. “The risk is that the US is front-run by Pakistan,” he said.On Wednesday,Kyrgyzstan, a key emerging playerin Central Asia’s crypto market, advanced a bill to establish a state cryptocurrency reserve.Meanwhile, on Aug. 6, Indonesian Bitcoinadvocate group, Bitcoin Indonesia, said they recently met with Indonesian officials to discuss how the strategy could drive economic growth in the country.</div>Loading recommendations...</div>

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Galaxy Digital’s Alex Thorn suggests a strong possibility that the US will establish a Strategic Bitcoin Reserve by the end of this year, despite skepticism from some industry executives. Recent legislative developments indicate progress, including a bill for the US Treasury to assess the reserve's feasibility. However, some experts believe the announcement may not occur until 2026, raising concerns about the US potentially falling behind other nations in Bitcoin accumulation.

'Strong Chance' US Will Form Strategic Bitcoin Reserve This Year: Alex Thorn