A Bitcoin Policy Institute (BPI) executive floated a $1 million Bitcoin price scenario if the United States were to buy 1 million BTC.
In a Bitcoin Magazine podcast, Zach Shapiro, the head of policy for the Bitcoin-focused BPI think tank, said that a 1 million Bitcoin (BTC) purchase by the US would have a massive impact on the price of the asset. “If the United States announces that we are buying a million Bitcoin, that’s just a global seismic shock. […] I think first, Bitcoin price goes through the roof,” Shapiro said. “I think we’d probably go very quickly to something like a million dollars per Bitcoin.” The discussion followed US President Donald Trump’s March 7 executive order establishing a Strategic Bitcoin Reserve and a Digital Asset Stockpile.
A “Bitcoin superpower” should hold more Bitcoin
BPI executive director Matthew Pines said that other nations are watching how the US positions itself with Bitcoin before formulating their own strategies. The executive added that holding more Bitcoin aligns with Trump’s promise to make the US a Bitcoin superpower. “If Donald Trump wants to make good on his promise to be a Bitcoin superpower, that ultimately comes down to how much Bitcoin you have. This is a measure of how much the United States is making good on that rhetorical objective,” Pines said. Trump’s executive order also directs the Treasury and Commerce secretaries to develop “budget-neutral” strategies for acquiring more Bitcoin to expand the reserve without additional taxpayer burden. On March 12, Senator Cynthia Lummis reintroduced the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act to push US holdings above 1 million BTC.
Tariff earnings a “budget-neutral” strategy for buying Bitcoin
Pines also suggested ways to acquire Bitcoin in a budget-neutral fashion. He floated the idea of using tariff revenues to buy Bitcoin and other potential ways for the US government to purchase more BTC. “Revenues that the government can use to acquire more Bitcoin would be things like tariff revenue or other fees that the government collects that are not tax-based fees,” Pines said. This could include royalties from oil and gas leases, sales of federal land, physical gold and other digital assets. On April 2, Trump imposed a 10% baseline tariff on all imports from all countries through an executive order. The president’s order also included reciprocal tariffs for countries that charge tariffs on US imports. However, the administration’s evolving tariff policy has created ongoing market uncertainty.