- Cathie Wood says the administration may buy up to 1 million Bitcoin ahead of the midterms.
- The U.S. Bitcoin reserve currently consists only of assets seized by the government.
- Donald Trump signed an executive order treating seized Bitcoin as a strategic national asset but has not authorized market purchases.
- The administration has a crypto working group led by David Sacks and backs legislation such as the GENIUS Act.
- Bitcoin traded near $90,500, and retail sentiment on Stocktwits remained extremely bullish.
Cathie Wood, founder of Ark Invest, said she believes the federal government may begin buying up to 1 million Bitcoin ahead of the U.S. midterm elections. She made the comments during an episode of the firm’s podcast and cited political incentives and existing policy work as reasons for an impending purchase plan.
Wood said the administration originally intended to hold 1 million Bitcoins and that she expects buying to start. She argued one key motive is that Donald Trump “doesn’t want to be a lame duck,” and she noted the president’s family interests and the crypto community’s political support as additional factors.
The strategic Bitcoin reserve established by the administration has so far relied only on forfeited assets seized by law enforcement. Wood observed, “It seems as though there has been reticence about actually buying Bitcoin for the strategy reserve. So far, it’s confiscated [Bitcoin],” referring to assets held under the executive order that the president pledged not to sell.
Last year, the president signed an order directing the government to treat seized Bitcoin as a national asset and asked the Treasury and Commerce Departments to explore budget-neutral ways to expand holdings. The administration also formed a crypto-focused working group chaired by David Sacks and has supported legislation including the GENIUS Act; a market-structure bill is scheduled for markup next week.
Bitcoin’s price moved about 0.4% higher in the past 24 hours to roughly $90,500. Retail sentiment for BTC on Stocktwits remained in the “extremely bullish” range, with overall chatter at high levels.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Zcash developer activity hits lowest since 2021 amid feud now
- India Skips BRICS Naval Drill Amid India-China Tensions Grow
- Australia warns Grok fuels surge in non-consensual AI images
- Analyst: XRP Poised for 2026 Breakout Toward $8–$10 +Upside
- Tariff Ruling Threat Looms; Solana Outperforms, Crypto Holds
