Trump's Crypto Policy Chief David Sacks Comments on Bitcoin Reserves! Here are the details

Despite the confirmation by David Sacks, the chief of Trump's crypto policy, that the administration is considering creating a strategic Bitcoin (BTC) reserve for the US, the betting markets remain unconvinced.

Despite Trump's Advisor's Assurance, Polymarket Is Skeptical About US Bitcoin Reserves

Prediction platform Polymarket currently reflects doubts about the feasibility and political momentum of the plan by only assigning a 16% likelihood to the establishment of a national BTC reserve within the first 100 days of the Trump administration.

Recently in an interview, Sacks confirmed that President Trump's team was evaluating the potential of BTC reserves, but avoided making a definite commitment.

*President Trump asked us to investigate this issue, so we are not ready to comment on it yet. * However, this is also one of the issues our working groups will look into.

In addition, Senator Cynthia Lummis, a strong Bitcoin advocate from R-WY, has introduced a bill to create a BTC reserve through a "Bitcoin Purchase Program".

The proposal aims to purchase up to 200,000 BTC annually for five years, partially financed by the revaluation of the Federal Reserve's gold assets.

However, this legislative effort continues to differ from any White House-led endeavor and is currently being reviewed by the Senate Banking, Housing, and Urban Affairs Committee.

Michael Saylor, Chairman of the Board of MicroStrategy, one of the strongest advocates of the US Bitcoin reserve, argues that such a move will maintain the dominance of the US dollar.

Meanwhile, Texas is taking steps towards its own Bitcoin reserve. Contrary to federal efforts, the progress in the Texas state legislature seems more likely; Polymarket bettors give a 53% chance that a bill approving the Texas BTC reserve will pass in 2025.