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Inside the White House’s Plan to Buy Bitcoin | Patrick Witt — Key Takeaways

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Inside the White House’s Plan to Buy Bitcoin | Patrick Witt

What Bitcoin Did48mNov 9, 2026

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The Trump administration has no legal basis yet for open-market Bitcoin purchases — Treasury is exploring workarounds (gold repricing, the Exchange Stabilization Fund, tax receipts in BTC), but codifying the SBR requires Congressional authorization, which remains politically unlikely, making the SBR vulnerable to reversal by a future Democratic administration.

Key takeaways

The crypto council role will not be replaced after Patrick's exit

The crypto council role will not be replaced after Patrick's exit

  • Patrick confirms he believes there will be no replacement; responsibilities shift to legislative affairs, White House counsel, and Steven Miller's team.

Full US Bitcoin audit has not been completed with sufficient fidelity

Full US Bitcoin audit has not been completed with sufficient fidelity

  • Initial agency responses to audit request were of 'varying quality'; a second effort is underway to tighten numbers.
  • A decision whether to make the number public has not yet been made.

A standalone Strategic Bitcoin Reserve bill near zero chance in divided Congress

A standalone Strategic Bitcoin Reserve bill near zero chance in divided Congress

  • Patrick: 'incredibly difficult with a divided Congress' — Democrats won't pass something perceived as Republican.
  • Best chance is attaching pieces to a larger bill, not a vote on its own.

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In this video

  1. 1mIntroduction
  2. 1mWhy Patrick Witt Left the White House
  3. 7mEnding Choke Point 2.0 & Creating the Bitcoin Reserve
  4. 12mHow Much Bitcoin Does the US Government Own?
  5. 18mWill the US Government Buy Bitcoin?
  6. 22mWhy Bitcoin Matters to National Security
  7. 29mWhat the Midterms Mean for Bitcoin
  8. 36mWhat Happens to the White House Crypto Council?
  9. 40mBitcoin Beyond US Politics
  10. 44mQuantum Computing & Bitcoin Security

“The custody practices that were in effect across the different agencies were unbelievable. I mean, sometimes cold wallets, you know, kept in drawers.”

— Patrick Wit

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