No Gold for Bitcoin: White House Clarifies Strategic Reserve Plans
White House official David Sachs has clarified that the Trump administration never considered liquidating gold reserves to increase the nation’s Bitcoin holdings. Despite online rumors, Sachs stated that no such discussions occurred.
Strategic Bitcoin Reserve Plans
Sachs explained that the Treasury and Commerce Departments will formulate any financial strategy related to the newly established Strategic Bitcoin Reserve. These departments are exploring budget-neutral ways to increase their Bitcoin reserves, but no firm decisions have been made.
This initiative follows President Trump’s recent directive to create the Strategic BTC reserve, which consolidates approximately 200,000 BTC acquired through government actions. The directive instructs agencies to find ways to expand the reserve without burdening taxpayers. Any new government spending will require congressional approval to maintain budget neutrality.
Bitcoin’s Unique Attributes
According to Sachs, the administration differentiates Bitcoin from other digital assets. He highlighted Bitcoin’s secure design, decentralized nature, and lack of a central issuer as distinguishing features compared to cryptocurrencies like Ethereum, Solana, XRP, and Cardano. These qualities make Bitcoin a unique asset in digital finance.
This clarification from a senior White House official underscores the administration’s careful approach to integrating cryptocurrency strategies into federal financial policy.
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