Trump's Bitcoin Bid Hinges on Congressional Approval

President Donald Trump has expressed interest in the US accumulating sizable amounts of Bitcoin and other cryptocurrencies. According to his 2025 executive order, Treasury and Commerce are directed to develop budget-neutral acquisition strategies for Bitcoin.

The current law gives the administration several ways to increase federal crypto holdings, including forfeiture and civil-money-penalty channels. However, no public authority provides a funded program for multibillion-dollar open-market purchases of Bitcoin or other cryptocurrencies like Ethereum (ETH), XRP, and Solana.

A second executive order could remove the restriction on acquiring non-Bitcoin assets, but Congress would still control federal appropriations and investment powers. The 2025 order also requires implementation to comply with applicable law and the availability of appropriations.