Former White House Crypto Council executive director Patrick Witt said President Donald Trump is interested in the US government buying Bitcoin. In an interview with What Bitcoin Did, Witt said officials had discussed ways to do so, but the legality of buying directly on the open market was in question.
Witt said congressional authorization would be needed to ensure purchases were legal. He described the administration’s position as seeking to put the Strategic Bitcoin Reserve into law, while acknowledging that a standalone bill would be difficult to pass in a divided Congress.
According to Witt, options discussed at the Treasury include revaluing gold reserves, using the Exchange Stabilization Fund, converting other assets on the government’s balance sheet into Bitcoin, and accepting Bitcoin for taxes and fees. These were possible approaches, not approved purchases. Witt said each needs further legal analysis, and any move ultimately depends on whether Treasury Secretary Scott Bessent is willing to pursue it.
Witt also said an initial audit of Bitcoin held by government agencies produced uneven results and that a second review was underway to improve the figures. Whether the government would disclose its holdings remained undecided. He criticized past custody practices, saying some cold wallets had been kept in drawers and that Bitcoin held by the US Marshals Service had previously been stolen by a contractor’s son. Witt said Treasury was developing a custody system that could combine self-custody and third-party custody.
Witt said that, to his knowledge, no one would succeed him as White House Crypto Council executive director; responsibilities would instead be shared among offices including White House Legislative Affairs and the White House Counsel’s Office.
This is a historical report, published November 11, 2026, at 17:49 UTC+8. Foresight News noted that the interview was recorded before the US midterm elections and its video was posted on November 10. Witt’s account of discussions and possible routes does not establish that the government had authorized or made a Bitcoin purchase.