CoinJar: We need a Bitcoin Reserve in Australia, and fast. Here’s why.
A campaign promise made by Donald Trump to the crypto bros in the USA may have got him over the line to win the 2024 US election. That is, that he would create a Bitcoin Reserve for the American people. It would be a new type of ‘digital gold’, a nouveau gold standard-ish.
The crypto bros who were voting along these lines rejoiced, all 65 million of them. It’s a massive voting block. But they may have celebrated too hard, too early. Trump’s promise about a Bitcoin Reserve still feels half-delivered.
Trump announced that there would be indeed a Bitcoin Reserve, owned by the people, for the people. However, it would only contain seized Bitcoin, accumulated from raids of illegal activities. This meant that there would be no fresh Bitcoin being bought by the US government.
Without the upward pressure of a government accumulating Bitcoin in vast amounts, the Bitcoin price tumbled shortly after the “pro-crypto president” took the Whitehouse.
However, there is fresh hope for the crypto bros.
In a groundbreaking move today, New Hampshire has become the first U.S. state to enact a Bitcoin Reserve bill into law.
On the morning of May 7, 2025, Governor Kelly Ayotte signed House Bill 302, allowing the state’s treasury to allocate up to 10% of its general funds to purchase Bitcoin and other cryptocurrencies.
This historic legislation marks a significant step toward integrating digital assets into state-level financial systems.
Bitcoin is finally now legit. The first and original cryptocurrency has made it over the line.
Seeing as we here in Australia like to do everything the US does, this prompts the question for Australia: Should we follow suit?
What the Australian Crypto Leaders are Saying
Dominic Gluchowski, an executive at CoinJar, Australia’s longest-running cryptocurrency exchange, sees this as a pivotal moment for global finance. “New Hampshire’s decision is a signal flare for governments everywhere. Bitcoin isn’t just a speculative asset. It’s a store of value that can protect public funds from inflation and mismanagement.”
A Bitcoin Reserve in Australia: Is The Race On?
Australia has a vibrant crypto ecosystem, with exchanges like CoinJar serving over 600,000 users and managing billions in funds.
A Bitcoin Reserve law could position Australia as a leader in the Asia-Pacific region for digital asset adoption.
As more countries adopt Bitcoin, the price is likely to go up. Meaning that this could be a golden opportunity for Australia to buy and park Bitcoin at prices that we may not see even one year into the future. It could be the bargain buy of the century, all things going well.
Inflation Hedge
Says Gluchowski, “Bitcoin’s fixed supply of 21 million coins makes it a potential hedge against inflation, unlike fiat currencies subject to central bank policies. With Australia’s economy tied to global commodity markets, a Bitcoin reserve could diversify national wealth. Governments need to think beyond traditional assets like gold or bonds. Bitcoin’s scarcity and global acceptance make it a modern equivalent to gold, but with greater everyday uses.”
Attracting Investment and Innovation
A Bitcoin Reserve law could signal to global investors that Australia is open to crypto innovation. This could attract blockchain startups, venture capital, and talent to cities like Melbourne and Sydney, already hubs for fintech. Gluchowski says, “When you create a framework that embraces digital assets, you’re not just holding Bitcoin. You’re inviting the world’s brightest minds to build the future of finance here.
“Crypto isn’t just for traders. It’s about giving everyday Australians more control over their money, especially in a world where trust in institutions is not where it used to be.”
Is the race on to accumulate Bitcoin?
As other jurisdictions like El Salvador and now New Hampshire embrace Bitcoin, Australia risks falling behind if it doesn’t act.
“The world is moving toward a digital economy,” Gluchowski emphasised. “If Australia wants to lead, we need to integrate crypto into our financial strategy, not sideline it, debank it, or ignore it. A Bitcoin Reserve would require careful risk management, but the bigger risk is ignoring a technology that’s reshaping global finance.
“New Hampshire has shown what’s possible when you treat Bitcoin as a serious asset. Australia has the talent, the infrastructure, and the ambition to do the same. Should we really wait and see on this one?”
