At the Bitcoin 2025 conference in Las Vegas, David Sacks, the White House crypto czar, introduced a proposal aimed at increasing the U.S. government's Bitcoin holdings without increasing the national debt.
Key Details of David Sacks' Proposal
David Sacks outlined a plan for the U.S. government to acquire more Bitcoin, contingent upon support from the Treasury or Commerce Department. The proposal is budget-neutral, avoiding new taxes or increased national debt. President Trump has expressed support for this initiative, with interest from the Winklevoss brothers.
Bitcoin Market Reactions
Market reactions to this proposal have been mixed, as stakeholders assess the potential implications for Bitcoin's market value.
Current Bitcoin Statistics
As of May 28, 2025, Bitcoin's price reached $108,989.64 with a market capitalization of $2.17 trillion. The 24-hour trading volume was $52.43 billion.
David Sacks' Bitcoin acquisition plan represents a significant move for the U.S. toward digital assets, which could influence global financial markets and clarify Bitcoin's role as a strategic reserve asset.
