White House Doubles Down on Bitcoin! 200,000 BTC Not Enough, Plans to Buy as Much as Possible!

Source Tradingkey

TradingKey - The U.S. claims it will buy as much Bitcoin as possible to widen the gap with China and establish absolute dominance.  

According to market sources, Bo Hines, Executive Director of the Digital Assets Task Force appointed by U.S. President Trump, told attendees at a closed-door roundtable hosted by the Bitcoin (BTC)  Policy Institute that the White House plans to purchase as much Bitcoin as possible.

The news has been confirmed by a White House official, who stated that all Bitcoin purchases will be budget-neutral and will not cost U.S. taxpayers a single penny.  

Previously, when signing the executive order, Trump also made it clear that no taxpayer funds would be used. Instead, the U.S. government would convert 198,000 confiscated Bitcoins into reserve assets.

The Trump administration's decision not to use fiscal funds to purchase Bitcoin has significantly dampened market bullish sentiment but also reduced resistance to the plan's implementation. In fact, if the Trump administration had directly used fiscal funds, it could have sparked opposition from various factions and the public, potentially derailing the plan.

Currently, the U.S. holds the largest amount of Bitcoin globally, but its lead over China's 190,000 BTC is minimal, which may be the driving force behind the U.S. continuing to increase its holdings. Recently, U.S. Senator Cynthia Lummis proposed a bill requiring the U.S. to purchase up to 1 million Bitcoins within five years.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin Briefly Falls Below $76,000: Will Powell Staying on Board Curb Rally? Fed maintains interest rates, Bitcoin price falls below $76,000 as Powell's stay may hinder rebound.On April 30 (GMT+8), Bitcoin ( BTC) narrowed its losses and returned above $76,000, cur
Author  TradingKey
5 hours ago
Fed maintains interest rates, Bitcoin price falls below $76,000 as Powell's stay may hinder rebound.On April 30 (GMT+8), Bitcoin ( BTC) narrowed its losses and returned above $76,000, cur
placeholder
Brent Oil Breaks Through $120 Mark, Strait of Hormuz Deadlock Continues to Ferment, How Will Trump’s Choice Sway Oil Price Direction?Hopes for a resolution to the U.S.-Iran deadlock are fading, and the oil price rally continued during the Asian session. On Thursday, dampened by pessimistic news regarding peace talks, B
Author  TradingKey
8 hours ago
Hopes for a resolution to the U.S.-Iran deadlock are fading, and the oil price rally continued during the Asian session. On Thursday, dampened by pessimistic news regarding peace talks, B
placeholder
Today’s Market Recap: Fed Dissent and AI Capex Surges Define Volatile Earnings Week The S&P 500 edged down 0.04% to 7,135.95, while the Nasdaq Composite gained a modest 0.04% to reach 24,673.24. Meanwhile, the Dow Jones Industrial Average declined 0
Author  TradingKey
14 hours ago
The S&P 500 edged down 0.04% to 7,135.95, while the Nasdaq Composite gained a modest 0.04% to reach 24,673.24. Meanwhile, the Dow Jones Industrial Average declined 0
placeholder
Goldman Sachs: Structurally Bullish on Gold to $5,400, But Warns of Short-Term PullbackGoldman Sachs ( GS) 's latest precious metals research report on gold ( XAUUSD) price trends presents a "structurally bullish, tactically cautious" dual outlook, maintaining its year-end
Author  TradingKey
Yesterday 10: 13
Goldman Sachs ( GS) 's latest precious metals research report on gold ( XAUUSD) price trends presents a "structurally bullish, tactically cautious" dual outlook, maintaining its year-end
placeholder
UAE Announces Exit From OPEC. Wall Street Warns: Medium-Term Oil Prices Face Downside RisksThe United Arab Emirates (UAE) has officially announced that it will formally withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ alliance on May 1.Bl
Author  TradingKey
Yesterday 06: 15
The United Arab Emirates (UAE) has officially announced that it will formally withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ alliance on May 1.Bl
goTop
quote