U.S. Bitcoin strategy picks up pace – BTC declared ‘digital gold’

U.S. Treasury recognizes Bitcoin as “digital gold,” emphasizing its role as a store of value.
Trump’s nomination of Scott Bessent signaled strong Bitcoin advocacy and potential strategic reserve plans.

Bitcoin [BTC]’s ascent past the $100,000 milestone has ignited a global frenzy, attracting investors, institutions, and even governments.

Amid this optimism, Tesla’s Elon Musk has called for the U.S. to establish a BTC strategic reserve, citing concerns over the nation’s $36 trillion debt.

U.S. Treasury recognizes Bitcoin as “digital gold”

Adding weight to the conversation, the U.S. Treasury Department has officially recognized Bitcoin as “digital gold,” highlighting its emerging role as a store of value.

In a recent report, the Treasury stated,

“Primary use case for Bitcoin seems to be a store of value aka ‘digital gold’ in a decentralized finance (DeFi) world,”

The U.S. Treasury’s acknowledgment of BTC as a store of value akin to gold highlights its meteoric rise, with its market valuation growing from $6.4 billion in 2015 to an astonishing $1.3 trillion by 2024.

This exponential growth underscores the increasing interest in DeFi and digital tokens.

Trump’s U.S. Bitcoin strategy

Adding to the momentum, U.S. President Donald Trump has nominated pro-Bitcoin advocate Scott Bessent as the next Treasury Secretary.

That being said, Trump’s earlier pledge to establish a “strategic national Bitcoin reserve” and his bold prediction that BTC could surpass gold’s $16 trillion market capitalization signals a significant shift in the national approach to digital assets.

In fact, Bessent commented on the same post-Trump’s Bitcoin reserve proposal and said,