Highlight Clip: Patrick Witt: The US government needs express authorization from Congress to legally buy Bitcoin.
Patrick Witt: The US government needs express approval from Congress to legally buy Bitcoin.
On November 10, 2026, Patrick Witt, former executive director of the White House Crypto Council, said in an interview with What Bitcoin Has Done that President Donald Trump is interested in increasing government holdings of Bitcoin. The administration is discussing a number of ways to do this, but legal questions remain about whether the government can buy bitcoin directly on the open market and how it can do so without provoking a negative market reaction.
Witt said the administration wants to codify the strategic bitcoin reserve and secure express approval from Congress. Since Congress controls appropriations, the administration will have to show that buying bitcoin fits into the original purpose of all the existing funds it plans to use. He added that early passage could cause Congress to insert a provision into the National Defense Authorization Act that prohibits such purchases, undermining efforts to secure approval.