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 Hits $97K Despite Elevated PPI and Lack of US Tariff DecisionDespite higher-than-expected Producer Price Index (PPI) inflation data for November, Bitcoin surged to new eight-week highs, diverging from US stock markets.
Author  Mitrade
11 hours ago
Despite higher-than-expected Producer Price Index (PPI) inflation data for November, Bitcoin surged to new eight-week highs, diverging from US stock markets.
placeholder
Standard Chartered lifts Ethereum call to $7,500, arguing institutional demand could leave Bitcoin trailingStandard Chartered raised its year-end Ethereum target to $7,500 (from $4,000), citing institutional demand, while projecting $25,000 by 2028 and scenarios toward $40,000 by 2030 amid ETF- and treasury-driven accumulation.
Author  Mitrade
14 hours ago
Standard Chartered raised its year-end Ethereum target to $7,500 (from $4,000), citing institutional demand, while projecting $25,000 by 2028 and scenarios toward $40,000 by 2030 amid ETF- and treasury-driven accumulation.
placeholder
Silver Price Forecast: XAG/USD corrects to near $86.50 as Iran stops killing protestersSilver price corrects almost 6% to near $86.50 during the Asian trading session on Thursday.
Author  FXStreet
15 hours ago
Silver price corrects almost 6% to near $86.50 during the Asian trading session on Thursday.
placeholder
Bitcoin shows strong correlation with institutional demand following 7% uptickBitcoin's price has largely tracked net institutional demand over the past year, according to Bitwise. Net institutional demand is the buying activity of global exchange-traded products (ETPs) and treasury companies minus new supply.
Author  FXStreet
19 hours ago
Bitcoin's price has largely tracked net institutional demand over the past year, according to Bitwise. Net institutional demand is the buying activity of global exchange-traded products (ETPs) and treasury companies minus new supply.
placeholder
US Dollar Index steadies above 99.00 ahead of Retail Sales, PPI dataThe US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is inching lower after registering modest gains in the previous session. The DXY hovers around 99.10 during the Asian hours on Wednesday.
Author  FXStreet
Yesterday 10: 19
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is inching lower after registering modest gains in the previous session. The DXY hovers around 99.10 during the Asian hours on Wednesday.
goTop
quote