President Donald Trump still wants the US government to buy Bitcoin for its Strategic Bitcoin Reserve, Patrick Witt said on the What Bitcoin Did podcast. The reserve, set up by an executive order in March 2025, currently holds only Bitcoin seized by the government. Witt said there has been extensive discussion inside the administration about how to add to it through open-market purchases without raising federal spending. Legal limits remain the main obstacle. New purchases would likely need approval from Congress, unless officials use alternatives such as revaluing US gold reserves or tapping the Treasury’s Exchange Stabilization Fund, according to reports on the discussion. Treasury Secretary Scott Bessent is involved in weighing the next steps. Officials are also working to fix custody problems caused by poor storage of seized coins in the past. No purchases have been made so far, and with Democrats now controlling Congress, passing a standalone reserve bill looks harder.
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