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International Business Times

Business

Marvie Basilan

Trump Admin Seeks To Acquire As Much Bitcoin As Possible Amid Global Race: Report

Donald Trump Bitcoin Trump Admin Bo Hines White House Crypto United States the Trump Org

Strategic Bitcoin reserves are the latest trend in governments, and the U.S. is joining the global arms race. (Credit: Kanchanara/Unsplash)

KEY POINTS

Trump has said the US may purchase more $BTC than it already holds from seizures but only if the purchases won't cost American taxpayers
There have been no recommendations yet from the Treasury from where the money will be taken for additional Bitcoin acquisitions
Crypto users are urging the US government to act fast if it doesn't want to get left behind in the global race toward SBRs

The Donald Trump administration is seeking to accumulate as much Bitcoin as possible, a White House official reportedly told cryptocurrency industry leaders this week. If true, the Trump admin may need to speed up its accumulation while prices are in the low.

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