Jack Mallers says Trump could trigger Bitcoin supply shock on day one

Jack Mallers, CEO of Strike and prominent Bitcoin advocate, has made a bold claim that former President Donald Trump may use an executive order on his first day back in office to designate Bitcoin as a United States reserve asset.
The move, according to Mallers, could mark a seismic shift in global financial strategy.
Speaking on a podcast with YouTuber Tim Pool, Mallers suggested that Trump could rely on provisions within a "Dollar Stabilization Act" to authorize the purchase of Bitcoin for the U.S. Treasury.
"There’s potential to use a day-one executive order to purchase Bitcoin," Mallers said. While he clarified that the move wouldn’t involve acquiring 1 million BTC at once, it would still represent a "significant position."
Bitcoin Act of 2024 Could Spark $20 Billion BTC Buy
The potential move is tied to the Bitcoin Act of 2024, a proposal introduced by pro-crypto Senator Cynthia Lummis. The act aims to authorize the U.S. Treasury and Federal Reserve to purchase 200,000 Bitcoin annually over five years, amounting to 1 million BTC — approximately 5% of Bitcoin’s total supply.
If implemented, this strategy could drive a supply shock in the Bitcoin market, prompting analysts to forecast soaring prices. Perianne Boring, founder of The Digital Chamber, believes the move could push Bitcoin’s price to $800,000 by 2025, while PlanB’s stock-to-flow model sees a potential surge as high as $1 million.
BlackRock’s recent call for a 1-2% Bitcoin allocation in diversified portfolios further bolsters the idea of mainstream adoption. Should Trump’s administration follow through on the Bitcoin Act, it could catalyze a global shift as other nations move to include Bitcoin in their own reserve strategies. As Mallers stated, "The sky is the limit."
Eric Trump, son of U.S. President-elect Donald J. Trump, vowed at the Bitcoin MENA 2024 conference in the UAE that his father’s presidency would be the most crypto-friendly in U.S. history. He attributed the family's growing interest in cryptocurrency to financial institutions cutting ties with the Trump Organization following January 6, 2021.