Trump will wait for Bitcoin to hit $60K before buying

Jeff Park, Head of Alpha Strategies at Bitwise, believes U.S. President Donald Trump is unlikely to buy more Bitcoin (CRYPTO:BTC) unless its price drops to around $60,000.  

Speaking on March 9, Park highlighted the political considerations that influence such decisions, noting that public officials typically avoid buying Bitcoin during price surges due to reputational risks.  

On March 6, Trump signed an executive order establishing a Strategic Bitcoin Reserve, marking a significant step in U.S. involvement with digital assets.  

The reserve is reportedly funded by around 200,000 BTC seized through criminal and civil asset forfeitures, valued at approximately $17 billion.  

While the order prohibits selling Bitcoin within the reserve, it instructs Treasury and Commerce officials to explore “budget-neutral” methods of acquiring additional BTC without taxpayer costs.  

“Public officials almost never buy Bitcoin on trend/momentum and certainly not at the highs,” Park explained that political figures tend to avoid purchasing Bitcoin at high prices.

“Can you imagine the headlines that will come for Trump if he buys Bitcoin at $100k and it goes to $70k?” he added, stating that the potential backlash of buying Bitcoin at peak prices makes a cautious approach more politically viable.

The Strategic Bitcoin Reserve is intended as a long-term asset store, similar to a "digital Fort Knox," according to White House Crypto Advisor David Sacks.

However, Park believes that for the reserve to be successful, it will need structured buying strategies and clear accountability measures.

He also contrasted the long-term approach taken by some public pension fund managers who have invested in Bitcoin with the short-term concerns of political figures facing re-election pressures.

At the time of reporting, the Bitcoin (BTC) price was $82,109.59.