Key Points
- Trump’s Executive Order for a Strategic BTC Reserve also addressed further BTC acquisitions.
- On March 6, Treasury Secretary Scott Bessent addressed “the American Dream.”
According to the latest reports, the US is looking for new strategies to acquire more Bitcoin. This idea was also highlighted in Trump’s Executive Order about a Strategic Bitcoin Reserve and a Stockpile of Digital Assets released yesterday.
US to Buy More Bitcoin
Recent X reports citing Bloomberg stated that the US Treasury Secretary, Scott Bessent, said that the country is looking for ways forward to acquire more BTC.
The creation of a Bitcoin-specific reserve fulfills a promise that Trump had previously made during his 2024 Presidential Campaign.
The Executive Order shared by David Sacks via X indicated that the US government would not use taxpayer money to fund an SBR, but instead, the reserve would be capitalized with Bitcoin already owned by the Government.
David Sacks via XThe Order also stated that any further acquisitions would require “budget-neutral strategies for acquiring additional Bitcoin,” as long as these strategies impose no incremental costs on American taxpayers.
Another important issue highlighted by the official notes was that the US will not sell the Bitcoin already deposited into the Reserve.
As we recently reported, the US Government missed a substantial amount of potential profits by selling its BTC reserves.
US Treasury Secretary Addressed the “American Dream”
Yesterday, CNBC reported that Bessent defended the White House’s position on the recently imposed tariffs, insisting that trade policy has to be more than just getting low-priced items from other countries.
He said that “access to cheap goods is not the essence of the American Dream, but this is rooted in the concept that any citizen can achieve:
- Prosperity
- Upward mobility
- Economic security
He also said that Trump considers tariffs to have three benefits:
- A revenue source with the US running massive fiscal deficits
- A way to protect industries and workers from unfair practices around the world
- “The third leg to the stool” as Trump uses tariffs for negotiating
Bessent also talked about the importance of imposing fiscal discipline, something that the Executive Order of a US SBR signed by Trump also highlighted for Bitcoin and other digital assets.
Trump and important names in the crypto industry could address the plans for further BTC buying in the US during today’s Crypto Summit at the White House.
