Trump remains interested in buying Bitcoin for strategic reserve, former adviser Patrick Witt says
Former White House crypto adviser Patrick Witt stated that Donald Trump wants the U.S. government to purchase Bitcoin for a national reserve, though legal questions and funding constraints continue to delay the effort.
President Donald Trump remains interested in having the U.S. government acquire Bitcoin for its Strategic Bitcoin Reserve, according to former White House crypto adviser Patrick Witt. Speaking on the What Bitcoin Did podcast, Witt confirmed that the president wants to add to the nation's holdings and that discussions regarding potential acquisitions have been extensive.[3][1][5][7]
Any direct open-market purchases face immediate legal and procedural obstacles because Congress holds authority over federal spending. To navigate this, the administration has looked into acquiring Bitcoin without increasing federal expenditures, examining alternative funding models such as gold revaluation, utilizing Treasury funds, or converting other digital assets currently held by the federal government into Bitcoin.[6][7]
Beyond funding strategies, the initiative has been held up by legal uncertainty and unresolved government custody issues. While each proposed acquisition route still requires rigorous legal review, the U.S. Treasury is working to audit the government's existing Bitcoin holdings and improve its digital asset custody systems.[4][2][7]
Key facts
- Former White House crypto adviser Patrick Witt said Donald Trump remains interested in purchasing Bitcoin for the U.S. Strategic Bitcoin Reserve.
- Witt noted that direct market purchases face legal hurdles because Congress controls federal spending.
- The administration is exploring alternative funding mechanisms to acquire Bitcoin without increasing federal spending.
- Options considered to expand holdings include gold revaluation, Treasury funds, and converting other government-held digital assets into Bitcoin.
- Legal uncertainties and unresolved custody issues have delayed the initiative, and each proposal requires legal review.
- The Treasury is working to audit existing Bitcoin holdings and upgrade custody systems.
Sources · 7 sources
- BM
Bitcoin Magazine@BitcoinMagazinePost on X ·
NEW: 🇺🇸 Former White House Crypto Chief Patrick Witt says President Trump is still interested in buying bitcoin for the US Strategic Bitcoin Reserve 👀 He told the What Bitcoin Did podcast that "the president's interested in it." 👏 https://t.co/16PDeDaszJ
Open source - TW
The Wolf Of All Streets@scottmelkerPost on X ·
FORMER WHITE HOUSE CRYPTO ADVISER PATRICK WITT SAYS TRUMP IS INTERESTED IN BUYING BITCOIN $BTC, BUT LEGAL QUESTIONS REMAIN https://t.co/bagFwXrEQb
Open source - CO
CoinMarketCap@CoinMarketCapPost on X ·
LATEST: 🇺🇸 Former White House crypto adviser Patrick Witt says President Trump is interested in buying Bitcoin, telling What Bitcoin Did “there has been a lot of discussion,” though legal questions remain. https://t.co/JnrmevPhFs
Open source - CN
crypto.news@cryptodotnewsPost on X ·
NEW: Trump remains interested in buying Bitcoin for the US Strategic Bitcoin Reserve, former adviser says According to the former White House adviser Patrick Witt, Trump remains interested in buying Bitcoin for the US Strategic Bitcoin Reserve, and legal uncertainty and unresolved government custody issues are the ones delaying the initiative.
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🔥 BULLISH: Trump is still interested in buying Bitcoin for the US Strategic Bitcoin Reserve, ex-White House crypto adviser Patrick Witt told What Bitcoin Did. How much BTC do you think it’ll add to the reserve? https://t.co/KTDFuiN8Tx
Open source - CO
CoinDesk@CoinDeskPost on X ·
INSIGHT: Former White House crypto adviser @patrickjwitt says President Trump still wants the U.S. to buy $BTC without increasing federal spending, with the administration exploring alternative funding mechanisms. https://t.co/HHYZ1JaWhq
Open source - BS
BSCN@BSCNewsPost on X ·
Trump is Not Done With His Bitcoin Reserve Plans Former White House crypto adviser Patrick Witt (@patrickjwitt) says Donald Trump (@realDonaldTrump) remains interested in purchasing Bitcoin $BTC. Witt discussed the plans on the What Bitcoin Did podcast. The administration has explored several ways to expand its BTC holdings. Options include gold revaluation, Treasury funds and converting other government-held digital assets. Witt said direct market purchases face legal hurdles because Congress controls federal spending. Treasury is also working to improve custody systems and audit existing Bitcoin holdings. The government could also convert other digital assets into BTC. However, each proposal still requires legal review. Source: Benzinga
Open source