How Likely Is the Strategic Bitcoin Reserve and How Will It Impact Bitcoin's Price?

Thanks to this year's rally in Bitcoin (CRYPTO: BTC), which recently broke through the $100,000 price level, the concept of a strategic Bitcoin reserve has rapidly transformed from an arcane campaign issue into an economic idea worthy of serious consideration. There's even a piece of legislation, the Bitcoin Act of 2024, that lays out how it might become a reality as soon as next year.

But just how likely is this to occur? And what would be its impact on the price of Bitcoin? Let's take a closer look.

From a conceptual standpoint, the strategic Bitcoin reserve is similar to the strategic Petroleum Reserve, created in 1975 in response to the energy crisis of that era. The goal at the time was to build a stockpile of 1 billion barrels of petroleum, to cushion the U.S. economy against potential external supply shocks.

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Source Fool.com