Recent speculation around a potential U.S. government bitcoin buying spree has added confusion to an already volatile crypto market, but officials and existing policy make one thing clear: there is currently no mechanism for the federal government to buy bitcoin at any price level.
The rumors gained traction over the weekend after Jim Cramer suggested on air that President Donald Trump could begin filling a U.S. bitcoin reserve if prices fall to $60,000. While the comment briefly caught the attention of crypto traders, it is not supported by the current legal or policy framework in Washington.
A Bitcoin Reserve That Doesn’t Yet Exist
Although Trump did sign an executive order directing the creation of a strategic bitcoin reserve, that action did not immediately establish one. Federal agencies have spent months auditing existing government-held crypto assets, largely consisting of bitcoin seized through civil and criminal enforcement actions. However, officials have acknowledged that Congressional authorization is still required to formally create a reserve under U.S. law.
So far, no such legislation has passed. Recent crypto-related bills , including stablecoin regulation and broader market structure proposals , have not included provisions for a federal bitcoin reserve. With Congress already stretched thin, industry lobbyists say a reserve is currently not a top legislative priority, trailing behind market oversight and crypto tax clarity.
No Taxpayer-Funded Bitcoin Buying
Trump administration officials have repeatedly emphasized that the government does not plan to use taxpayer money to buy crypto. Treasury Secretary Scott Bessent reinforced this position during Congressional hearings last week, stating plainly that he has no authority to bail out bitcoin or order financial institutions to purchase digital assets.
Instead, Trump’s executive order specifically instructed federal agencies to stop selling seized crypto, allowing confiscated assets to be set aside for a future reserve if and when one is legally established.
Why the Rumor Mattered to Markets
Bitcoin recently dipped as low as $62,840 before stabilizing near $70,000. If markets believed the U.S. government would step in as a buyer at $60,000, it could have created a perceived price floor. However, there is no “buy button” inside the federal government capable of triggering such a move.
As of now, estimates suggest the U.S. government holds roughly $23 billion worth of bitcoin, according to blockchain analytics data, but these holdings stem from asset seizures , not active purchases.
Legislative Ideas, No Execution Yet
Some policymakers, including Senator Cynthia Lummis, have proposed ways for the government to acquire bitcoin without using taxpayer funds. However, those proposals have not advanced, and Lummis has announced plans to retire after this year, further dimming prospects for near-term progress.
Meanwhile, several U.S. states have moved more quickly, exploring or establishing limited bitcoin reserve authority at the state level—highlighting how federal action continues to lag.
Bottom Line
Despite market chatter and televised speculation, the reality remains unchanged: the U.S. government is not currently positioned to buy bitcoin, at $60,000 or any other price. Until Congress creates a legal framework and funding mechanism, any talk of federal bitcoin accumulation remains hypothetical rather than actionable.
