President Trump says U.S. Bitcoin purchases remain under review

U.S. President Donald Trump said on Aug. 19 that his administration had discussed accumulating more Bitcoin or other cryptocurrencies but had not reached a decision. Summary Trump said officials discussed additional Bitcoin accumulation but confirmed no government purchase decision or timetable. The existing Strategic Bitcoin Reserve holds assets obtained primarily through completed federal forfeiture proceedings cases. Treasury and Commerce may develop budget neutral Bitcoin acquisition strategies imposing no additional taxpayer costs. Trump said he would consider recommendations from SEC Chair Paul Atkins and other administration advisers. Federal policy bars purchasing additional non Bitcoin stockpile assets without further executive or legislative action. Trump responded to a question during a White House gathering attended by technology executives, cryptocurrency industry leaders and federal regulators. He said he would likely rely on Securities and Exchange Commission Chair Paul Atkins and the broader policy team for recommendations. “Well, it’s been talked about,” Trump said during the event. “I think I’d probably rely on Paul and the whole group for that.” The president add...