Trump administration’s crypto czar says the U.S. could swallow more Bitcoin (BTC) to increase its upcoming strategic reserves.
In a recent nationwide podcast interview, renowned venture capitalist and crypto czar David Sacks stated that the government would be allowed to purchase more of the leading crypto asset through market capitalization to bolster its strategic reserves, provided certain budgetary conditions are met.
“What I’m talking about is fiscal and commercial – if these strategies are budget-neutral and do not impose any losses on taxpayers, they can figure out strategies to accumulate more Bitcoin. So we’re not saying we can say we will, but if they can find a way that does not impact the federal budget, the deficit, or taxpayers, it authorizes them to acquire more Bitcoin.”
Last week, President Donald Trump signed an executive order (EO) to establish a strategic Bitcoin and crypto reserve. The EO sets up a national BTC and crypto asset inventory by holding digital assets seized from criminal activities rather than auctioning them off as was done previously.
Similarly, last week, Sacks revealed that the U.S. federal government had previously sold some of its BTC, resulting in a loss of tens of thousands of dollars in Bitcoin growth. As Sacks noted at the time, “If the government had held onto its Bitcoin, today’s value would exceed $17 billion. That’s the cost to U.S. taxpayers for not formulating a long-term strategy.”
According to data from market intelligence firm Arkham, the federal government currently holds approximately $16.4 billion worth of the flagship digital asset.
Bitcoin was trading at $82,524 at the time of writing, having dropped 3.2% on the day.
Don’t miss a beat – subscribe to get email alerts delivered directly to your inbox.
Check price action
Follow us on x, Facebook, and Telegram
Surf Daily Hodl Mix
