The mining firm MARA is pushing for the implementation of a strategic Bitcoin reserve across all 50 states and by the federal government of the United States, according to the company’s CEO, Fred Thiel.
Focusing now on bringing the Strategic Bitcoin Reserve (aka SBR) to all 50 states and the Federal government. https://t.co/7dzxWohFpm
— Fred Thiel (@fgthiel) January 22, 2025
The top executive confirmed a publication by MARA’s Director of Government Relations, Jason Browder. Browder expressed support for organizations promoting digital gold throughout the country.
According to him, the Bitcoin reserve is a priority at both regional and federal levels. In this regard, MARA is collaborating with the administration of the elected President of the United States, Donald Trump.
As of December 2024, public mining companies held over 92,000 BTC on their balance sheets. This trend was partly driven by MARA, Riot Platforms, and Hut 8 adopting a digital gold purchasing strategy similar to that of MicroStrategy.
The reserves of four public miners have already exceeded 10,000 BTC. In January, CleanSpark joined the aforementioned trio.
On January 21, the market experienced a sharp profit-taking due to the absence of cryptocurrency mentions during Donald Trump’s inauguration speech.
In his address after taking office, the U.S. President did not touch upon the creation of a national Bitcoin reserve, which was among his campaign promises.
Investors were disappointed: the day before, they had factored into prices the expectation that digital assets would become one of the priority areas of government policy.