Trump Still Interested in Increasing Bitcoin Holdings Amid Legal Hurdles

Former White House cryptocurrency advisor Patrick Witt stated on the podcast "What Bitcoin Did" that President Trump remains interested in purchasing Bitcoin to bolster the United States' strategic Bitcoin reserves, with related proposals having been discussed multiple times. Witt pointed out that due to Congress controlling federal spending, there is legal uncertainty regarding the government's direct purchase of Bitcoin on the open market. Congress has included relevant restrictions in the National Defense Authorization Act, prohibiting such direct purchases. The government is currently attempting to secure the necessary authorization. In March 2025, the U.S. government established a strategic Bitcoin reserve through an executive order, with initial assets primarily coming from Bitcoin previously seized by the government, and has instructed the Treasury and Commerce Departments to explore budget-neutral ways to acquire more BTC, but specific plans have yet to be announced, nor has a public market purchase plan been declared. Witt also mentioned that if an independent bill is to be passed to make the strategic Bitcoin reserve permanent, it will face significant difficulties given the divided Congress. Without legislative support, the reserve currently relies on the executive order, and future presidents may revoke it through new executive orders.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.