{"id":380502,"date":"2025-03-09T09:55:23","date_gmt":"2025-03-09T04:25:23","guid":{"rendered":"https:\/\/dripp.zone\/news\/no-plan-yet-to-sell-gold-to-buy-more-bitcoin-but-treasury-will-decide-david-sacks-crypto-news\/"},"modified":"2025-03-09T09:59:24","modified_gmt":"2025-03-09T04:29:24","slug":"no-plan-yet-to-sell-gold-to-buy-more-bitcoin-but-treasury-will-decide-david-sacks-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/no-plan-yet-to-sell-gold-to-buy-more-bitcoin-but-treasury-will-decide-david-sacks-crypto-news\/","title":{"rendered":"No Plan Yet to Sell Gold to Buy More Bitcoin, But Treasury Will Decide: David Sacks – Crypto News"},"content":{"rendered":"
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White House Crypto Czar David Sacks said Friday that the Trump administration has not yet had any conversations about selling off reserve government assets like gold to buy up more Bitcoin\u2014but indicated that key federal departments will soon weigh such considerations.<\/span><\/p>\n

\u201c<\/span>There\u2019s been no conversation about that,\u201d Sacks told <\/span>Decrypt<\/span><\/i> about potential plans to sell off assets like gold to acquire more Bitcoin for the federal government\u2019s newly announced Strategic Bitcoin Reserve. \u201cI see people speculating about that online.\u201d<\/span><\/p>\n

\u201cUltimately, it\u2019ll be up to the Secretary of the Treasury and also the Secretary of Commerce to determine if there are budget-neutral ways of adding to our Bitcoin Reserve,\u201d he said. \u201cBut we have not had conversations about what those might be yet.\u201d<\/span><\/p>\n

Last night, President Donald Trump signed an executive order establishing a <\/span>Strategic Bitcoin Reserve<\/span><\/a> that will hold the nearly <\/span>200,000 BTC<\/span><\/a>, worth roughly $17 billion at today’s prices, that the U.S. has in its possession thanks to criminal and civil forfeitures.\u00a0<\/span><\/p>\n

The order elaborated, however, that the Treasury and Commerce Departments \u201c<\/span>shall develop strategies for acquiring additional Government BTC provided that such strategies are budget neutral and do not impose incremental costs on United States taxpayers.”<\/span><\/p>\n

Budget neutrality is a key sticking point for the White House, not only because of public perception but also because congressional approval is generally required for initiatives that involve new uses of taxpayer funds.\u00a0<\/span><\/p>\n

Earlier on Friday, a senior White House official <\/span>told <\/span>Decrypt<\/span><\/i><\/a> that Bitcoin \u201cdeserves special treatment\u201d over altcoins like Ethereum, Solana, XRP, and Cardano\u2014because it is more secure, more decentralized, and doesn\u2019t have an issuer.\u00a0<\/span><\/p>\n

\u201cYou can think of [Bitcoin\u2019s] $2 trillion market cap like a bug bounty\u2014trying to find holes in the [network\u2019s] security,\u201d Sacks said Friday. \u201cAnd no one’s ever been able to do it.\u201d<\/span><\/p>\n

\u201cSo we believe that it is special,\u201d he said.<\/span><\/p>\n

While Bitcoin is in a league of its own in the newly announced strategic reserve, other cryptocurrencies seized by the U.S. government in civil and criminal forfeitures will be pooled to create a Digital Assets Stockpile, according to Thursday’s executive order.\u00a0<\/span><\/p>\n

The White House clarified Friday that whereas Bitcoin will be held indefinitely by the U.S. government in a \u201cDigital Fort Knox,\u201d altcoins in the Digital Assets Stockpile may be sold off at the Treasury Secretary\u2019s discretion.<\/span><\/p>\n

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White House Crypto Czar David Sacks said Friday that the Trump administration has not yet had any conversations about selling off reserve government assets like gold to buy up more Bitcoin\u2014but indicated that key federal departments will soon weigh such considerations. \u201cThere\u2019s been no conversation about that,\u201d Sacks told Decrypt about potential plans to sell […]<\/p>\n","protected":false},"author":2,"featured_media":380503,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-380502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/380502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=380502"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/380502\/revisions"}],"predecessor-version":[{"id":380504,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/380502\/revisions\/380504"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/380503"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=380502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=380502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=380502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}