Former White House Crypto Official Says Trump Wants U.S. Bitcoin Buys

Patrick Witt, former executive director of the White House crypto council, said Donald Trump is interested in U.S. government purchases of Bitcoin (BTC), a move that could signal a shift in federal policy.

Witt said officials have held extensive internal discussions about possible buying methods. He said direct purchases on public markets raise legal questions and congressional authorization would be needed to ensure they are lawful.

Witt said the administration is pushing to establish a strategic Bitcoin reserve in law, but a divided Congress could make a standalone bill difficult to pass.

Treasury has discussed options including revaluing gold holdings, drawing on the Exchange Stabilization Fund, converting other balance-sheet assets into Bitcoin or accepting BTC for taxes and fees. Witt said each route needs further legal analysis and would depend on whether the Treasury secretary is willing to proceed.

Witt also said agencies are conducting a second review of government-held Bitcoin to improve accuracy; whether to disclose a total remains undecided. The interview was recorded before the midterm elections, and its video was posted Nov. 10.