The U.S. government holds about 378,372 Bitcoin, valued at over $24 billion, according to Arkham Research. However, more than a year after President Donald Trump signed an executive order to create a Strategic Bitcoin Reserve, no new Bitcoin has been acquired. The government has not added to the digital assets it already held from criminal seizures.
David Bailey, a former crypto advisor to the Trump administration, says that gap speaks volumes. “Liking Bitcoin is not enough,” Bailey stated last week at the Bitcoin Investor Week Conference in New York. He drew a clear line between political goodwill and tangible action, noting that while Trump’s support for Bitcoin has been genuine, support alone doesn’t drive markets or policy.
Bailey acknowledged the administration took an important first step, but emphasized that first steps don’t guarantee further progress. Without the will to overcome resistance—from budget hawks, skeptical lawmakers, or a political system slow to embrace new financial ideas—the reserve order remains largely symbolic.
Reports indicate that David Sacks, the White House’s AI and crypto coordinator, recognized the challenge early on. Just two months after the executive order was signed, Sacks said increasing the government’s Bitcoin holdings would need to be “budget-neutral,” meaning no new taxes or debt. That constraint has been difficult to navigate, and no public framework has been outlined to achieve it.
Bailey didn’t mince words. “Unless you’re willing to spend the political capital needed to mobilize the various gears required to move forward,” he said, the outcome is the same whether a politician supports Bitcoin or not. He highlighted the gap between expressing an opinion and doing the work to support it.
Despite his critique, Bailey remains optimistic. He told the audience that Bitcoin doesn’t need government action to survive or grow. The only question, in his view, is one of timing. “Whether it’s four years from now, or 10 years, or 20 years,” he said, “we will eventually have a government that creates the rules needed for Bitcoin to succeed.”
Bailey now leads KindlyMD, a Bitcoin treasury company, and made clear his focus is on expanding ownership rather than waiting for Washington. He believes more Bitcoin owners mean more voters with a personal stake in pro-Bitcoin policies—and that, he argues, is what will make widespread adoption inevitable over time.
Frequently Asked Questions
Of course Here is a list of FAQs about the topic Former Trump Advisor Urges US to Take Action on Bitcoin Not Just Praise It designed to cover a range of perspectives from beginner to advanced
Beginner General Questions
1 Who is this former Trump advisor and what did they say
Answer The advisor is David Sacks a venture capitalist and former PayPal executive He argued that the US government should move beyond just supportive statements about Bitcoin and take concrete actions like making it legal tender or adding it to the national balance sheet to secure its financial leadership
2 Why would a former government advisor care about Bitcoin
Answer Many advisors and policymakers see Bitcoin as a critical tool for national security and economic competitiveness They believe that by embracing it the US can strengthen the dollars dominance counter rival financial systems and foster technological innovation
3 What does taking action on Bitcoin actually mean
Answer It means moving from talk to policy Examples include passing clear friendly regulations for crypto businesses allowing Bitcoin ETFs in retirement accounts exploring a digital dollar that works with Bitcoin or even buying Bitcoin for national reserves similar to how countries hold gold
4 Isnt Bitcoin just for criminals and speculators Why should the government get involved
Answer While misuse happens Bitcoins underlying technology is seen as a major innovation Proponents argue that by creating clear rules the US can attract legitimate businesses create jobs and ensure the financial system is transparent and secure reducing illicit use
Intermediate Policy Questions
5 What are the main benefits for the US in leading on Bitcoin
Answer The key benefits are
Maintaining Financial Sovereignty Preventing China Russia or others from controlling the future of digital money
Attracting Capital and Talent Making the US the global hub for crypto innovation
Modernizing the Dollar Integrating Bitcoin could make the dollar more resilient and usable in a digital world
6 What are the biggest risks or arguments against this idea
Answer Critics point to