VanEck Officially Endorses Bitcoin as a Strategic Reserve Asset

VanEck, a prominent asset management firm with $118 billion in assets under management, has officially voiced its support for Bitcoin's designation as a strategic reserve asset. Matthew Sigel, the firm's head of digital asset research, confirmed this endorsement in a post on X on November 20, aligning with a growing financial industry movement.

The support for Bitcoin's strategic reserve concept comes as part of a broader initiative, which was first introduced by U.S. President Donald Trump at a crypto conference in July. Trump’s plan to position Bitcoin as a cornerstone of U.S. financial policy is gaining traction quickly.

VanEck Strong Direct Endorsement of Strategic Reserve

In his statement, Sigel emphasized, “No need for ‘sources’—we just tell you ourselves,” highlighting the firm’s firm stance on Bitcoin’s potential role in reshaping financial reserves. The endorsement follows efforts from U.S. lawmakers, including Republican Senator Cynthia Lummis of Wyoming, who has been pushing for the concept in Congress. Lummis earlier proposed the BITCOIN Act, designed to boost innovation and competitiveness through optimized investment in the U.S.

Following Lummis’s push, Pennsylvania has introduced similar legislation to allow Bitcoin to be counted as part of their strategic reserve. If passed, this bill could allow the state to allocate 10% of its reserve to Bitcoin, marking a significant shift in how the U.S. views digital assets.

VanEck, known for being a pioneering force in digital assets, was also the first firm to propose a Bitcoin futures-based ETF in the U.S. back in 2017.

The proposed Bitcoin-backed legislation could reshape the U.S. government’s financial strategies, which have historically been centered on gold. Under the BITCOIN Act, the U.S. government could acquire up to 1 million BTC over the next five years, which could represent a new chapter in how the country approaches its strategic financial reserves. This would allow the U.S. to hold Bitcoin instead of selling its current 69,370 BTC, valued at $6.4 billion.