Add as a preferred source on GoogleWhite House Explores Federal Inflows to Expand Bitcoin Reserve
Patrick Witt said buying Bitcoin on public markets would require congressional authorization. The proposal aims to avoid increasing taxpayer spending.
The White House is exploring whether existing federal inflows can be received or converted into Bitcoin to expand the U.S. strategic Bitcoin reserve without increasing taxpayer spending.
Patrick Witt, executive director of the President’s Council of Advisers for Digital Assets, said public-market Bitcoin purchases would require congressional authorization. The administration is examining ways to add Bitcoin through existing federal inflows instead.
The proposal is intended to follow President Donald Trump’s executive order on the strategic Bitcoin reserve.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.