Former White House crypto advisor: The U.S. is still interested in buying Bitcoin
2026-11-11 08:39:34
According to CoinMeta, former White House crypto advisor Patrick Witt stated that the government is still interested in purchasing Bitcoin ($BTC) for strategic Bitcoin reserves in the United States, but faces legal and operational obstacles. In an interview on What Bitcoin Did on November 9th, he mentioned that officials have explored various ways to increase the government's holdings, but no approved purchase plan has been announced yet. The original framework was established in March 2025 through an executive order, which required the use of confiscated Bitcoin to fund the reserves and instructed officials to explore additional acquisitions through budget-neutral strategies that did not increase the cost to taxpayers. Potential methods mentioned by Witt include re-evaluating the government's gold reserves and reviewing the Treasury Department's Foreign Exchange Stabilization Fund. These possibilities require legal review, as Congress controls federal spending. He also pointed out that inconsistent institutional records and custody practices make it complicated to accurately account for the existing holdings. For crypto investors, the difference between interest and actual implementation is of paramount importance.
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