The US government may consider increasing its Bitcoin
Speaking at the Bitcoin 2025 conference on May 27, Sacks said the government could potentially buy more Bitcoin, but only if it could do so without raising taxes or increasing the national debt.
During a discussion with Gemini
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He said either the Commerce Department or the Treasury Department would need to approve the decision and find a way to cover the cost by using funds that have already been allocated elsewhere.
Sacks pointed to an executive order signed on March 6 that established a federal cryptocurrency reserve. That order allows the government to hold Bitcoin from asset seizures. It also includes a clause that would allow the government to buy additional Bitcoin, but only if the purchase does not increase the deficit.
He added that if one of the two departments can identify a program with unused funds, those could be redirected to finance a Bitcoin purchase. In that case, no new laws would be needed, as the departments already have the authority to act.
Sacks said the next step would be to see if either department is willing to support the plan and figure out how to make it work within the current budget.
On May 21, the Texas House of Representatives approved Senate Bill 21, a proposal related to Bitcoin. What does the bill include? Read the full story.
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