Treasury Eyes Budget-Neutral Bitcoin Buying — Potential Structural Demand

I view the Treasury's statement that the U.S. is exploring "budget-neutral" ways to acquire more Bitcoin as a notable shift toward treating BTC as a potential official holding. If carried out, it could create a structural source of demand and reduce liquid supply in markets.

However, "budget-neutral" proposals are likely to face legal, accounting and political scrutiny and may take time to design and implement. The market impact will hinge on the mechanism, authorization, and the scale and timing of any purchases.

I will be watching for concrete legislative or executive details; the announcement is bullish in principle but not an immediate price catalyst until we see specific policy steps and volumes.