U.S. government not expected to intervene with bitcoin acquisitions, contrary to Jim Cramer speculation.

President Donald Trump has indeed requested the creation of a bitcoin reserve, although it has not yet materialized, despite CNBC’s host indicating that the government will begin acquiring it when bitcoin reaches $60,000.

CNBC’s Jim Cramer has suggested that the government may purchase bitcoin if it reaches $60,000, but the reserve is currently non-existent.

What to know:

• The recent turmoil surrounding bitcoin’s decline became even more perplexing over the weekend as the markets attempted to decipher a rumor from CNBC’s Jim Cramer that President Donald Trump would begin acquiring his bitcoin reserve if the asset drops to $60,000.
• However, the reserve has not yet been established, and congressional approval is likely required for its creation.
• Officials from the Trump administration have indicated that there are no plans to utilize taxpayer money for purchasing crypto, and Treasury Secretary Scott Bessent stated last week that he lacks the authority to provide a bailout for bitcoin.

President Donald Trump’s U.S. bitcoin BTC$70,715.04 reserve has not yet been created, and there is currently no framework within the federal government for the large-scale acquisition of crypto.

It is important to remember this weekend’s speculations regarding the price threshold that might prompt the White House to initiate purchases, largely influenced by CNBC speculator Jim Cramer. However, no such mechanism exists.

The president has indeed instructed the establishment of a “strategic reserve” for bitcoin, but that does not mean it has come into existence. The Treasury Department and crypto advisors have spent months evaluating the federal crypto holdings (though White House crypto advisor Patrick Witt mentioned to CoinDesk last week that they will still not disclose a figure). Yet, complications arose: the proponents indicated that congressional action is still necessary to formalize the reserve under law.

The new U.S. legislation for stablecoin issuers did not encompass this initiative, nor does the comprehensive crypto market structure bill currently under consideration in the U.S. Senate. Advancing legislation through this Congress — even less contentious issues — presents a significant challenge, and industry lobbyists are presently concentrated on the bill aimed at establishing market and regulatory frameworks for digital assets. The reserve may not even rank high on the list of priorities, as crypto tax regulations also demand attention.

When Cramer suggested during a broadcast that Trump might have a strategy, stating, “I heard at 60 he’s going to fill the bitcoin reserve,” the crypto markets took notice. The struggling asset has recently fallen to as low as $62,840 but has hovered just below $70,000 for several days, and if the U.S. government were prepared to intervene at $60,000, that could represent a significant development. However, this rumor lacks backing from the current federal fund activities.

At this time, Trump’s executive order from last year to create the bitcoin reserve and a separate collection of other crypto assets remains unfulfilled. Additionally, his order explicitly rejected the notion of the government purchasing crypto with taxpayer resources (which was disappointing to the industry at that time). Instead, he instructed his administration to cease the sale of seized assets, so anything obtained in civil or criminal cases is reportedly being reserved for the future stockpile.

The White House did not promptly respond to a request for clarification regarding the weekend’s speculation. The government’s current bitcoin assets may approximate $23 billion, according to data from Arkham Intelligence concerning U.S.-associated wallets.

Various proposals have been put forth by Trump’s advisors and lawmakers like Senator Cynthia Lummis regarding how the federal government could acquire bitcoin without utilizing taxpayer funds, yet no definitive solutions have been established. Furthermore, Lummis’s legislative initiatives to implement the reserve have not progressed, even as her time in the Senate dwindles following her announcement of retirement at the end of this year.

During Congressional hearings last week, Treasury Secretary Scott Bessent was questioned about whether the government was positioned to provide a bailout for bitcoin, and he stated that he had no such power. More specifically, he indicated that he cannot instruct U.S. bankers to begin purchasing crypto.

For government acquisitions, the industry may currently benefit from looking toward state governments. Several state administrations pursued bitcoin reserve authorities last year and have been more agile than the federal government in allocating portions of their budgets for digital assets.

Read More: Why Doesn’t the U.S. Have a Bitcoin Reserve, Yet?