Patrick Witt: The U.S. Government Needs Explicit Congressional Authorization to Legally Buy Bitcoin On November 10, 2026, Patrick Witt @patrickjwitt, former executive director of…
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Patrick Witt: The U.S. Government Needs Explicit Congressional Authorization to Legally Buy Bitcoin On November 10, 2026, Patrick Witt @patrickjwitt, former executive director of the White House Cr…
Patrick Witt: The U.S. Government Needs Explicit Congressional Authorization to Legally Buy Bitcoin On November 10, 2026, Patrick Witt @patrickjwitt, former executive director of the White House Crypto Council, said in an interview with What Bitcoin Did @_DannyKnowles that President Donald Trump is interested in adding to the government's Bitcoin holdings. The administration has discussed several ways to do so, but legal questions remain over whether the government can buy Bitcoin directly on the open market and how it could do so without triggering a negative market reaction. Witt said the administration wants to codify the Strategic Bitcoin Reserve and secure explicit authorization from Congress. Because Congress controls appropriations, the administration would have to show that buying Bitcoin falls within the original purpose of any existing funds it plans to use. He added that moving prematurely could prompt Congress to insert a provision into the National Defense Authorization Act banning such purchases, undermining efforts to secure authorization.
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