As the bear market continues in Bitcoin, David Bailey, who served as a cryptocurrency advisor to the Donald Trump administration, has made new statements.
Speaking at the Bitcoin Investor Week Conference in New York, David Bailey said the US government should now do more to support Bitcoin adoption.
At this point, Bailey said that expanding Bitcoin adoption requires not just verbal support from the US government, but also concrete policies.
“Ultimately, liking Bitcoin isn’t enough. The Trump administration took an important first step. But it didn’t progress.”
We need more than just words and love: we need action.
Bailey stated that no real purchases have been made since the strategic Bitcoin reserve decree was signed in March 2025, and that the majority of BTC held by the US government are confiscated assets.
“A year has passed and it hasn’t resulted in any actual purchases. We don’t even know exactly how much Bitcoin we have.”
However, Bailey stated that Bitcoin’s long-term success remains unchanged, saying, “Whether it takes four, ten, or twenty years, a government with a Bitcoin-friendly system will eventually emerge.”
According to Arkham data, the U.S. currently holds approximately 378,372 Bitcoin, worth about $22.48 billion.
Bailey criticized the US for not taking concrete steps regarding Bitcoin purchases, while White House cryptocurrency official David Sacks stated that the process of accumulating Bitcoin would not be so easy.
Following the signing of the executive order, Sacks stated that the US could buy more Bitcoin if the government could finance its purchases without imposing taxes or adding to the growing national debt.
*This is not investment advice.
