Bernstein: US Cryptocurrency Working Group Will Focus on Building a National Bitcoin Reserve

According to CoinDesk, investment bank Bernstein released a research report that the US cryptocurrency working group will focus on promoting the establishment of a national bitcoin reserve. Analyst Gautam Chhugani's team believes that this move may trigger a scramble among global sovereigns to include bitcoin in reserve assets.
The report explores the key issues facing reserve building: first, the identification of the purchaser, which would require legislative approval if executed by the Federal Reserve; and second, the source of funding, which could be resolved by issuing bonds or selling some of the gold reserves. The report also mentions that the US government could add about $20 billion worth of bitcoins previously seized from criminal activities to the national reserve.
It is worth noting that the Trump administration has previously announced the establishment of a sovereign wealth fund (SWF), which will see major US cryptocurrency companies as strategic investment targets. Bernstein advised investors to prepare for a new bull market in bitcoin and related stocks.