What Does the White House Say About Selling Gold to Buy Bitcoin?
Despite the Trump administration’s recent establishment of the Strategic Bitcoin Reserve , the White House has no plans to sell gold to buy more BTC , according to cryptocurrency advisor David Sacks.
“We have not discussed selling assets like gold to buy more Bitcoin. People are speculating too much,” Sacks said.
However, he stressed that the Treasury and Commerce Departments will consider options to purchase additional Bitcoin without adding to the budget burden.
The executive order signed by Trump yesterday confirms that the US will retain nearly 200,000 BTC (worth about $17 billion) collected from civil and criminal forfeitures. Altcoins such as ETH, SOL, XRP will be gradually sold at the discretion of the Treasury Secretary.
Why Just Hold Bitcoin? A White House Official Says BTC “Deserves Special Treatment” Because It’s Highly Decentralized, Strong Security, and Has No Issuer.
