David Sachs, the head of the White House Office of Artificial Intelligence and Cryptocurrency, has suggested that the United States could buy more bitcoins. To implement this idea, it is necessary to find funding that does not require additional taxes or an increase in the national debt.
Conditions for purchase
In order to begin the purchase process, it will be necessary to convince Commerce Secretary Howard Lutnick or Treasury Secretary Scott Besson. In addition, it is necessary to find funds under other programs that do not use the full amount of allocated resources.
Trump’s Executive Order
The order signed by President Trump on March 6 authorizes the creation of a crypto reserve. This means that the government can buy more bitcoins, provided that this does not have a negative impact on the budget.
Current US Assets
As of today, the United States has approximately 198,012 bitcoins in its possession, which is valued at more than $ 21 billion. Most of these assets were obtained from arrests related to the Silk Road and the Bitfinex hacker.
Asset Sale
In January, the US Department of Justice received permission to sell 198,109 bitcoins. In March 2023, the government sold part of its portfolio, selling 9,861 bitcoins for $215.7 million.
These moves indicate that the US is actively working to develop its position in the cryptocurrency space and is open to new investment solutions. However, specific steps and decisions to expand investment in bitcoin are still being discussed at the highest levels of government.
