Why the US Government Says It Won’t Be Buying Bitcoin

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Europac CEO Peter Schiff said on Wednesday that the US government won’t be buying Bitcoin as Trump promised. Is it fake news?

Before winning the 2024 presidential election in a landmark victory for the cryptocurrency sector, former president Donald Trump promised to establish a national Bitcoin reserve.

As a result, crypto markets have been making big bets on Bitcoin’s price increasing throughout 2025.

But Trump hasn’t yet committed the federal government to making any new Bitcoin purchases. His more modest plan is to simply freeze the Bitcoin the government has already seized from those like Ross Ulbricht, who broke the law.

So does that mean Schiff is right, and the government won’t be buying Bitcoin, even with Trump in charge?

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