Patrick Witt: The U.S. government needs congressional authorization to buy Bitcoin
2026-11-14 12:00:25
According to CoinMeta, former Executive Director of the White House Digital Assets Advisory Committee, Patrick Witt, stated in an interview on What Bitcoin Did that if the U.S. government wishes to buy Bitcoin legally, it would require explicit authorization from Congress. He mentioned that Trump is interested in increasing his holdings of Bitcoin, and specific plans have been discussed multiple times within the government, but there are still legal uncertainties regarding whether they can purchase directly on the open market. Moreover, how to avoid negative market reactions to such purchases is also a challenge. Witt said that the current administration hopes to include strategic Bitcoin reserves in the law and obtain explicit authorization from Congress. Since the power to allocate funds lies with Congress, if the government intends to use existing appropriations, it must prove that purchasing Bitcoin is in line with the intended purpose of those funds. He also noted that hasty action could lead Congress to add a ban in the National Defense Authorization Act, which would in turn block the path for authorization.
Bullish 0
Bearish 0
Source:X
This content is for market information only and does not constitute investment advice.