Will the US Sell its Gold and Buy Bitcoin? The Highest Official Makes the Final Statement

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Bitcoinsistemi2025/03/08 10:11

By:Mete Demiralp

US cryptocurrency chief David Sacks answered the question of whether the country would sell gold and buy Bitcoin in his statement.

White House Crypto Chief David Sacks confirmed today that the Trump administration is not yet in talks to sell government gold reserves to acquire more Bitcoin. However, key federal departments are set to explore budget-neutral strategies to expand the newly announced Strategic Bitcoin Reserve.

“There hasn’t been any talk about that,” Sacks said of speculation that the government could liquidate gold to support Bitcoin assets. “I see people speculating about that online.”

Sacks noted that any decisions regarding such financial maneuvers would fall to the Treasury Secretary and the Commerce Secretary. “Ultimately, it will be up to the Treasury Secretary and the Commerce Secretary to determine whether there are budget-neutral ways to add to our Bitcoin Reserve,” he said, adding, “But we haven’t had any discussions yet about what those might be.”

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The announcement comes after President Donald Trump issued an executive order on Thursday formally establishing the Strategic Bitcoin Reserve. The initiative combines approximately 200,000 BTC (worth around $17 billion at current market prices) that the U.S. government has obtained through criminal and civil seizures.

According to the decision, the Departments of Treasury and Commerce “shall develop strategies to acquire additional Government BTC, provided that such strategies are budget-neutral and do not impose additional costs on United States taxpayers.”

Because new allocations of taxpayer funds often require congressional approval, budget neutrality is a crucial factor for the administration, both in terms of public perception and legal considerations.

The administration has also made a clear distinction between Bitcoin and other cryptocurrencies. A senior White House official told reporters that Bitcoin “deserves special treatment” compared to altcoins like Ethereum, Solana, XRP and Cardano because of its security, decentralization and lack of an issuing entity.

*This is not investment advice.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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