White House Crypto Chief David Sacks confirmed today that the Trump administration has not yet held discussions about selling state gold reserves to acquire more Bitcoin. However, significant federal departments are preparing to explore independent strategies from the budget to expand the newly announced Strategic Bitcoin Reserve.
Sacks said, 'No discussions have been made on this,' regarding speculation that the government could liquidate gold to support Bitcoin assets and added, 'I see people speculating on the internet about this.'
Sacks noted that any decision on such financial maneuvers would be up to the Treasury Secretary and the Commerce Secretary. "Ultimately, determining whether there are budget-independent ways to add to our Bitcoin Reserve will be up to the Treasury Secretary and the Commerce Secretary," he said, adding, "However, we have not yet had a discussion about what that might be."
The announcement came after President Donald Trump's official order on Thursday to establish the Strategic Bitcoin Reserve. This initiative combines approximately 200,000 BTC obtained by the US government through criminal and legal seizures, worth about 17 billion dollars at current market prices.
According to the decision, the Treasury and Commerce Ministries 'will develop strategies to obtain additional State BTC, on the condition that such strategies are budget-neutral and do not impose additional costs on American taxpayers.'
Since the allocation of funds for taxpayers generally requires congressional approval, budget neutrality is a very important factor for administration in terms of both public perception and legal matters.
The administration also made a clear distinction between Bitcoin and other cryptocurrencies. A senior White House official stated that due to Bitcoin's security, decentralization, and lack of issuing entity, it deserves "special treatment" compared to altcoins such as Ethereum, Solana, XRP, and Cardano.
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Will the US Sell Its Gold and Buy Bitcoin? The Most Authoritative Figure Put the Final Point
White House Crypto Chief David Sacks confirmed today that the Trump administration has not yet held discussions about selling state gold reserves to acquire more Bitcoin. However, significant federal departments are preparing to explore independent strategies from the budget to expand the newly announced Strategic Bitcoin Reserve.
Sacks said, 'No discussions have been made on this,' regarding speculation that the government could liquidate gold to support Bitcoin assets and added, 'I see people speculating on the internet about this.'
Sacks noted that any decision on such financial maneuvers would be up to the Treasury Secretary and the Commerce Secretary. "Ultimately, determining whether there are budget-independent ways to add to our Bitcoin Reserve will be up to the Treasury Secretary and the Commerce Secretary," he said, adding, "However, we have not yet had a discussion about what that might be."
The announcement came after President Donald Trump's official order on Thursday to establish the Strategic Bitcoin Reserve. This initiative combines approximately 200,000 BTC obtained by the US government through criminal and legal seizures, worth about 17 billion dollars at current market prices.
According to the decision, the Treasury and Commerce Ministries 'will develop strategies to obtain additional State BTC, on the condition that such strategies are budget-neutral and do not impose additional costs on American taxpayers.'
Since the allocation of funds for taxpayers generally requires congressional approval, budget neutrality is a very important factor for administration in terms of both public perception and legal matters.
The administration also made a clear distinction between Bitcoin and other cryptocurrencies. A senior White House official stated that due to Bitcoin's security, decentralization, and lack of issuing entity, it deserves "special treatment" compared to altcoins such as Ethereum, Solana, XRP, and Cardano.