Despite the Bitcoin market still being in a correction phase, former Trump administration cryptocurrency advisor David Bailey recently spoke at the Bitcoin Investor Summit in New York, calling for the U.S. government to take substantial action to promote the official adoption of Bitcoin. Bailey pointed out that mere verbal support is far from sufficient; since the signing of the strategic Bitcoin reserve order in March 2025, the federal government has yet to complete any actual purchases. Currently, the United States holds approximately 378,000 Bitcoins, primarily from assets seized by law enforcement rather than proactive reserves. He emphasized that the government has not clearly established the exact number of Bitcoins it holds, nor has it created a systematic procurement mechanism. Bailey believes that while the Trump administration took a crucial step, subsequent progress has stalled, failing to translate policy into actual action. He reiterated that the long-term value of Bitcoin is unaffected by short-term market fluctuations, and in the future, nations will build robust Bitcoin support systems, regardless of whether this process takes four, ten, or twenty years. In response, White House cryptocurrency official David Sachs stated that government purchases of Bitcoin must be financed without increasing the fiscal deficit or raising taxes, highlighting the structural challenges faced in implementing policy. Bailey's remarks have reignited discussions about the strategic direction of U.S. cryptocurrency assets.
