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Patrick Witt, former executive director of the White House Crypto Council, said on November 10, 2026 that President Donald Trump is interested in adding to the government's Bitcoin holdings. In an interview with What Bitcoin Did, Witt said the administration has discussed several ways to accumulate more BTC, but legal questions remain over whether the government can buy Bitcoin directly on the open market and how to do so without triggering a negative market reaction.
Why it matters
The administration's stated goal is to codify the Strategic Bitcoin Reserve and secure explicit authorization from Congress, rather than rely on disputed executive authority. Because Congress controls appropriations, the administration would have to show that any Bitcoin purchase falls within the original purpose of the funds it plans to use.
The sequencing risk is real. Witt warned that moving prematurely could prompt Congress to insert a provision into the National Defense Authorization Act banning such purchases, which would undermine the entire effort to secure authorization.
Market impact
A US government bid adds a large, policy-backed buyer to a supply-constrained Bitcoin market, which is why the administration is weighing how to accumulate without moving the price against itself. The near-term catalyst to watch is the National Defense Authorization Act: any language restricting federal BTC purchases would kill the accumulation plan, while explicit authorization would turn the Strategic Bitcoin Reserve from an executive concept into funded law.
Frequently asked questions
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Why does the US government need Congress to buy Bitcoin?
Congress controls appropriations, so the administration must show that buying Bitcoin falls within the original purpose of any existing funds it plans to use. Explicit Congressional authorization would remove the legal ambiguity around open-market BTC purchases.
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Who is Patrick Witt?
Patrick Witt is the former executive director of the White House Crypto Council. He made the remarks in a November 10, 2026 interview on the What Bitcoin Did podcast.
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What is the Strategic Bitcoin Reserve?
It is the Trump administration's framework for holding and potentially adding to the US government's Bitcoin holdings. The administration wants it codified through explicit Congressional authorization rather than left on contested executive authority.
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How could the NDAA block federal Bitcoin purchases?
Patrick Witt warned that moving prematurely could prompt Congress to insert a provision into the National Defense Authorization Act banning such purchases, which would undermine the effort to secure authorization for the reserve.
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Why is the administration worried about market impact from buying BTC?
Legal questions remain over whether the government can buy Bitcoin directly on the open market and how it could accumulate without triggering a negative market reaction, since a large government bid could move the price against its own purchases.
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