Popular market commentator and TV personality Jim Cramer said on Friday he was told the Trump administration plans to purchase Bitcoin (CRYPTO: BTC) for the U.S. Strategic Reserve amid the ongoing market downturn.
Analyzing The US Government’s Bitcoin Stash
Cramer made the claim during CNBC’s Squawk on the Street segment, stating, “I heard at $60,000 the President is gonna fill the Bitcoin Reserve.”
The unverified claim coincided with Bitcoin’s sharp sell-off earlier this week when it narrowly avoided sinking below $60,000. The apex cryptocurrency has since rebounded to above $70,000. If Cramer’s claims are correct, Bitcoin would have to fall by more than 15% for the administration to complete the purchase.
The U.S. government holds 328,372 BTC, worth over $23 billion, according to data from Arkham. The holdings remained unchanged from last month, with no noticeable BTC moving into the wallet.
The Treasury Department didn’t immediately return Benzinga’s request for comment.
Admin ‘Won’t Bail’ Out Bitcoin
An executive order signed in March 2025 specified that Bitcoin in the reserve would initially come from criminal and civil asset forfeitures and that BTC deposited into the reserve cannot be sold.
Notably, Treasury Secretary Scott Bessent said earlier in the week that the federal government has no legal authority to support or “bail out” Bitcoin (CRYPTO: BTC) using public funds.
He said that neither the Treasury Department nor federal regulators have the authority to compel banks to purchase Bitcoin or to invest public money into cryptocurrency assets, including Bitcoin or tokens tied to President Donald Trump.
Meanwhile, the probability of a Strategic Bitcoin reserve getting officially established before 2027 has climbed to 31% on Polymarket, up from 23% in early January.
Price Action: At the time of writing, BTC was exchanging hands at $71,133.74, up 3,03% in the last 24 hours, according to data from Benzinga Pro.
Photo courtesy: katz / Shutterstock.com
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