David Bailey, a former crypto advisor to the Trump administration, mentioned the US authorities wants to maneuver from pro-Bitcoin rhetoric to concrete motion.
He made the feedback in the course of the Bitcoin Investor Week Convention in New York, in remarks later printed to YouTube.
Strategic Bitcoin Reserve nonetheless unclear
Bailey pointed to President Donald Trump’s March 2025 government order establishing a Strategic Bitcoin Reserve, arguing the US has not proven proof of accumulating bitcoin past cash seized in felony instances.
Bailey mentioned from the stage:
“On the finish of the day, liking Bitcoin just isn’t sufficient.”
He additionally questioned the federal government’s transparency round its holdings.
Bailey mentioned:
“Final time I checked, we don’t even understand how a lot Bitcoin we now have precisely.”
The US authorities has been estimated to carry 378,372 BTC, value about $22.48 billion on the time of publication.
Finances-neutral shopping for and a $1 million goal
Bailey argued that political follow-through issues if policymakers wish to affect outcomes like a $1 million bitcoin worth.
Bailey mentioned:
“Except you’re prepared to bear the political capital essential to mobilize the completely different gears mandatory to maneuver the ball ahead, then on the finish of the day, you’ll be able to like Bitcoin, you can’t like Bitcoin, you’re going to get the identical final result achieved.”
Bitcoin worth and regulation in focus
Bailey mentioned Bitcoin doesn’t want the federal government to succeed, however expects a future US authorities to create situations Bitcoin wants.
Bitcoin was buying and selling round $68,220, about 45% beneath its October all-time excessive close to $126,000.