Ex-White House Crypto Council Chief: Trump Wants US Government to Buy Bitcoin

Cointime update: Former White House Crypto Council executive director Patrick Witt said on the What Bitcoin Did podcast that President Trump is interested in having the US government purchase bitcoin, with internal discussions on how to do so. Buying directly on the open market raises legal questions and would need congressional authorization, so the administration is pushing to codify a Strategic Bitcoin Reserve into law, Witt said. Treasury has discussed revaluing gold reserves, using the Exchange Stabilization Fund, converting other balance-sheet assets and accepting bitcoin for taxes and fees.