The US government is waiting for other nations to start accumulating Bitcoin before adding it to its strategic reserve, according to crypto entrepreneur Mike Alfred. He believes that once other countries take action, the US will follow suit to avoid falling behind in the Bitcoin race.

Alfred predicts Bitcoin will reach $1 million per coin by 2033, with most governments holding the cryptocurrency as a strategic asset. Despite President Trump’s executive order to create a Strategic Bitcoin Reserve, the formal establishment of the plan is pending.

There is a risk of the US government being “front-run” in acquiring Bitcoin, warns Alfred. He notes significant progress in the government’s acknowledgment of Bitcoin but urges faster action to avoid being surpassed by nations like Pakistan in accumulating the cryptocurrency.

Read more at Cointelegraph: US Won’t Buy Bitcoin Until Other Countries Start