In a world where the White House AI and crypto czar, David Sacks, contemplates the ethereal realm of Bitcoin, he muses that perhaps, just perhaps, the US could acquire more of this digital gold. But wait! Only if the government can pull off this financial sleight of hand in a “budget-neutral” manner—no taxes, no debt, just pure magic! 🪄✨
During a fireside chat with the Winklevoss twins—yes, those twins—at the Bitcoin 2025 conference on May 27, Sacks, with a twinkle in his eye, admitted he “can’t promise anything.” But hey, there’s a glimmer of hope for the government to snag more Bitcoin (BTC). Who knew budgeting could be so thrilling? 🎢
“The real question,” Sacks pondered, “is can we get the Treasury or Commerce Department to jump on this Bitcoin bandwagon? If they can figure out the funding, they might just have the presidential thumbs-up!” Talk about a high-stakes game of financial poker! 🃏💸
US Can Buy Bitcoin If It Doesn’t Sting Budget
According to a March 6 executive order, the government is authorized to create a crypto reserve, holding any Bitcoin that’s been forfeited due to criminal or civil asset forfeiture. Because who doesn’t love a good government auction? 🎉
Sacks pointed out that this executive order “allows the government to purchase more” if it’s “done in a budget-neutral” way. So, if the Commerce or Treasury Department can find a way to fund it without adding to the debt, they’re golden! 🥇
As of now, the US holds about 198,012 Bitcoin, valued at over $21 billion. Most of this treasure came from two major seizures linked to the infamous Silk Road. One in November 2020 netted a whopping 69,370 Bitcoin, and another in March 2022 added 51,351 Bitcoin to the stash. Talk about a digital heist! 🏴☠️
Additionally, the US seized 94,636 Bitcoin from the Bitfinex hacker, Ilya Lichtenstein, on January 31, 2022. Authorities cracked into his cloud storage, revealing a treasure trove of crypto wallet addresses and private keys. Who knew hacking could pay off so well? 💻🔑
In January, the Department of Justice got the green light to sell 198,109 Bitcoin. They even sold a small portion in March 2023, offloading 9,861 Bitcoin for a cool $215.7 million. Just another day in the life of a government crypto trader! 💼💰
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2025-05-28 09:29