Zack Shapiro: Bitcoin Price Could Skyrocket to $1 Million with U.S. Acquisition Plan
Attorney Zack Shapiro predicts that if the U.S. announces plans to purchase one million BTC, Bitcoin prices could soar to $1 million. This scenario aligns with the proposed Bitcoin Act originally introduced by Senator Cynthia Lummis. The acquisition would prompt global reactions, influencing central banks and altering traditional asset values, with broader economic impacts expected.
Attorney Zack Shapiro of the Bitcoin Policy Institute asserted during a recent discussion that if the U.S. government announced plans to purchase one million BTC, the price per coin could potentially surge to $1 million. This conversation occurred weekly alongside Bitcoin Policy Institute Executive Director Matthew Pines and Growth Associate Zack Cohen, highlighting the potential implications of such an acquisition.
The proposed Bitcoin Act aims for the U.S. government to acquire one million BTC, representing 5% of total supply. Shapiro remarked that if implemented, based on revenue from revalued gold, this could cause significant market upheaval, potentially triggering a dramatic increase in Bitcoin’s value. Originally introduced by Senator Cynthia Lummis in July 2024, the Bitcoin Act was reintroduced again in March of this year.
Shapiro indicated that the strategic acquisition of Bitcoin by the U.S. would instigate reactions from other nations. With the U.S. leading the way in Bitcoin monetization, central banks worldwide might reassess their investment strategies. As Bitcoin gains traction as a reliable store of value, traditional assets like gold may see a decline in relevance, leading to increased Bitcoin holdings among central banks and consequently driving its price higher.
Shapiro further elaborated on the broader economic implications of the U.S. acquiring significant Bitcoin assets. With rising Bitcoin values, the federal government could substantially benefit its balance sheet. Additionally, various private sector entities, such as Bitcoin miners and related companies, would likely experience rapid wealth accumulation, potentially altering global trade dynamics and increasing U.S. economic influence.
Shapiro’s estimation of Bitcoin’s price reaching $1 million aligns with sentiments shared by other notable figures in the sector. Eric Trump expressed similar confidence at the Bitcoin MENA Conference in December, citing Bitcoin’s unique qualities—its censorship resistance, limited supply, and high liquidity—as driving factors for its future value. Also, analysts like Lyn Alden have predicted that Bitcoin could achieve this price target by 2035, emphasizing a growing consensus regarding Bitcoin’s potential growth.
In summary, if the U.S. government were to implement the Bitcoin Act and purchase one million BTC, significant market shifts could occur, driving the price potentially to $1 million per coin. This move would prompt global reactions from central banks and financial institutions, with extensive implications for both the U.S. economy and Bitcoin’s future as a prominent asset. The alignment of predictions from various influential figures further enhances the credibility of this potential outcome.
Original Source: thecryptobasic.com
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