Bitcoin prices have been struggling to regain momentum after a steep sell-off over the last month, partly due to a warning from BlackRock’s chief executive. However, a recent White House leak suggests that the administration is planning to acquire as much bitcoin as possible.
According to reports, Bo Hines, executive director of the presidential working group on digital assets, told attendees at a closed-door round table that the White House plans to buy as much bitcoin as it can in a budget-neutral way. This move is seen as an attempt to bolster the strategic bitcoin reserve created by President Trump via executive order earlier this month.
The reserve currently holds around 200,000 bitcoin accumulated from civil and criminal forfeitures. However, concerns over the lack of commitment to buying additional bitcoin led to a significant sell-off in prices. Despite this, analysts believe that concerns over the reserve may be overdone, with the potential for future budget-neutral purchases and other nations adopting bitcoin as strategic reserves.
Several market watchers have been talking up recent developments in the US and abroad, predicting that the dip is temporary. Brett Reeves, head of European sales at crypto infrastructure provider BitGo, notes that the crypto industry has witnessed several groundbreaking developments, including the establishment of a US bitcoin strategic reserve and recognition of stablecoins and real-world assets.
These advancements reflect a rapidly evolving landscape where digital assets are becoming integral to the global financial system. While prices may be crashing for now, experts believe that this space has significant potential in the years ahead.
Source: https://www.forbes.com/sites/digital-assets/2025/03/14/white-house-leak-sparks-wild-speculation-trump-is-about-to-blow-up-the-bitcoin-price