CNBC’s Jim Cramer suggested President Trump might buy bitcoin at $60,000, but on-chain data and federal officials confirm no such purchases or authority exist.
Market speculation surged after CNBC’s Jim Cramer suggested President Donald Trump would fill a U.S. Bitcoin Reserve at the $60,000 level, but on-chain data shows no evidence of such government buying. Federal officials confirmed that establishing a reserve requires congressional approval, which has not been granted. While the U.S. retains approximately $23 billion in seized bitcoin under a prior executive order, Treasury Secretary Scott Bessent emphasized that the administration lacks the legal authority to purchase digital assets with taxpayer funds.