David Sacks, White House AI and Crypto czar David Sacks said the US could purchase more Bitcoins if it can be funded by the government. “budget-neutral” Way without adding a single penny to the national debt or imposing a tax.
Sacks told Gemini founders Cameron Winklevoss and Tyler Winklevoss at a fireside discussion on May 27, 2008, during the Bitcoin 2025 conference He was not able to do so. “can’t promise anything,” A way exists for the Government to Buy More Bitcoin.BTC).
The purchase would need to be approved by either Treasury Secretary Scott Besson, or Commerce Secretary Howard Lutnick. “without a new tax or adding to the debt,” Sacks added that “maybe by finding the money from some other program that’s not using it — then we could potentially acquire more Bitcoin.”
“The question is, can we get either the Treasury Department or the Commerce Department to get excited about that because if they do and they can figure out how to fund it, they actually do have presidential authorization,” Sacks said.
US buyers of Bitcoin can do so if they don’t want to hurt their budget
The Executive Order of March 6, authorizing the creation of a crypto reserve states It will not hold anything Bitcoin forfeited As part of civil or criminal asset forfeiture.
Sacks noted that part of the Executive Order “allows the government to purchase more” It’s okay if you don’t mind “done in a budget-neutral” way.
“Specifically, if either the Commerce Department or the Treasury Department can figure out how to fund it without adding to the debt, then they are allowed to create those programs,” He said.
About 198,012 Bitcoin are held by the US. according CoinGecko’s April 2018 report is now available. worth At current prices, over 21 billion dollars.
Related: Trump supports bill to buy 1 million BTC — Senator Lummis
The majority of the holdings were derived from two Silk Road seizures, including one that took place in November 2020 and netted 69,370 BitcoinIn March 2022, authorities seized 51,351 Bitcoin.
US seizes 94,636 Bitcoin from Bitfinex hacker Ilya Lichtenstein After authorities had hacked his cloud storage, which held a file containing about 2,000 files, on January 31, 2022. crypto wallet addresses The private keys that correspond.
On January 1, the US Department of Justice received the green light Sell 198,109 Bitcoin. In March 2023 the government offloaded a tiny portion of their holdings. 9,861 Bitcoin for $215.7 million.
Magazine: Bitcoin payments are being undermined by centralized stablecoins
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Source: cointelegraph.com
