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

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 emphasized that no taxpayer funds would be used. Instead, the U.S. government plans to convert 198,000 confiscated Bitcoins into reserve assets.

The Trump administration's decision not to use fiscal funds for Bitcoin purchase has tempered market bullish sentiment but also reduced resistance to the plan's implementation.Had the administration directly allocated fiscal funds, it could have faced resistance from various factions and the public, potentially derailing the initiative.

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