WuBlockchain reports, citing Patrick Witt: Direct purchase of Bitcoin by the U.S. government requires explicit congressional authorization.
According to Wu Blockchain, Patrick Witt stated in a November 10 interview with *What Bitcoin Did* that Donald Trump is interested in increasing the U.S. government's Bitcoin holdings. The executive branch is discussing related approaches, though direct purchases in the open market still involve legal and fund-usage issues. Witt noted that the government hopes to enshrine the strategic Bitcoin reserve into law and obtain explicit authorization from Congress; using existing funds would also require demonstrating compliance with their original intended purposes. He cautioned that acting too prematurely could prompt Congress to insert provisions prohibiting purchases into the National Defense Authorization Act (NDAA). The above represents his views from the interview and does not imply that Congress has authorized or the government has executed any purchases.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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