Rumors that the U.S. government is poised to swoop into markets and buy bitcoin at a set price — sparked in part by CNBC’s Jim Cramer — don’t match reality. There is no federal “buy button” and, crucially, no mechanism in the U.S. government today to conduct wholesale purchases of crypto with taxpayer funds. What exists is an executive directive from President Trump ordering a “strategic reserve” to hold bitcoin and other seized crypto assets. That order did not create an immediate stash of coins, nor did it authorize the Treasury to buy bitcoin on the open market. Instead, the administration instructed agencies to stop selling seized crypto so those assets could be held aside for a future reserve — but actually turning that idea into a legal, funded program requires Congress. Lawmakers and officials have spent months auditing federal crypto holdings, and White House crypto adviser Patrick Witt has declined to disclose an official total. Independent on‑chain analysis from Arkham Intelligence estimates U.S.-associated wallets may hold roughly $23 billion in crypto, but that’s not the same as a ready-to-deploy government war chest. Congressional legislation so far has not created a purchase mechanism. The stablecoin law adopted recently and the broader crypto market-structure bill moving through the Senate both omit a government reserve. Clearing new, potentially controversial crypto policy through this Congress is difficult; industry lobbyists are focused on establishing market and oversight rules and on tax guidance, leaving a dedicated bitcoin reserve lower on the priority list. The rumor gained traction after Jim Cramer said on air he’d “heard at 60 he’s going to fill the bitcoin reserve,” a comment that traders noticed as bitcoin recently traded between about $62,840 and just under $70,000. But Treasury officials in recent congressional hearings made clear they have no authority to order banks to buy crypto or to “bail out” the market, underscoring the lack of any automatic federal backstop tied to a price point. Some ideas for non-taxpayer-funded acquisition mechanisms have been floated by Trump advisers and lawmakers such as Senator Cynthia Lummis, but no plan has been selected and related legislation has not advanced—Lummis is also set to retire after this year. In the meantime, state governments have been more agile: several have moved to create their own bitcoin reserve authorities, and those subnational efforts may be the more actionable path for official crypto holdings for now. In short: intriguing headlines and on-air speculation do not equal a federal purchasing program. The president’s reserve remains a concept in need of congressional authorization, legal clarity and a funding mechanism before any White House “buy” could become reality. Read more AI-generated news on: undefined/news

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