White House INSIDER LEAKS Americas NEW Strategic Bitcoin Reserve Plan!! | EP 1614

Nico Moran (0:02)

New rumors are circulating surrounding America's Strategic Bitcoin Reserve Plans after the man in charge, Patrick Witt, just dropped a bombshell on his way out of the White House. On the exact day that he officially left his position as, it's a long one, it's like the executive director of the Presidential's Crypto Advisory.

We saw a clip of him saying what they're going to do with the Strategic Bitcoin Reserve. I'm going to play it for you guys. But before we listen to it, I want you to ask yourself, one, was he fired because he leaked America's Bitcoin Plan, or did he simply just give us a nugget before leaving the White House? And so before I speculate, let's watch this clip. And then I'm going to give you the timeline of events and how everyone saw this happening in real time on Twitter. So here's the clip that I think started this all, at least all of the rumors and speculation. It is on Lark Davis' crypto channel where he interviewed Patrick Witt. I got the short clip for you.

Ask yourself, one, even if it's that crazy of a clip, and two, what exactly is going on? So here we go.

Patrick Witt (1:14)

Beyond the seized assets, we're exploring ways that we can accumulate more Bitcoin in a budget-neutral manner. That's what the executive order directs us to do. And why does it have to be budget-neutral? Well, any new spending of dollars has to be authorized by Congress and appropriated with dollars. So not having that authority right now from Congress to go and do open market purchases of Bitcoin, we would certainly need authority to do that. There are other ways that there are inflows into the federal government that could potentially be paid in Bitcoin or converted into Bitcoin. So we're exploring all of those right now, but it's a process. It's a legally very interesting and kind of curious question that gets raised because this president is a businessman and not all of them that came before him are. So he thinks about things in a different way, like he's running a business, like he's managing his own treasury at an organization in the private sector. But those are questions that don't usually get asked in government because it is just a totally different beast.

Nico Moran (2:22)

OK, so first of all, let's just talk about the clip in general, right? Obviously, if you saw this clip circulating on Twitter yesterday from all of our friends on the, you know, aggregate news sites, or sorry, accounts, it was kind of, I don't know, described as Patrick Witt is saying the US is going to accumulate Bitcoin. And arguably, you could say if you're kind of reading between the lines, obviously, he's a public official or at least was a public official. So they can't really come out directly and say like, yeah, we're buying a bunch of Bitcoin. You don't really want to, you know, ruin your plans. Again, I've been saying for a long time, if you are the United States and your plan is to accumulate Bitcoin, the last thing you want to be doing is essentially telegraphing every buy. Obviously, as a federal initiative, they have to say what they're going to do. But any smart person knows, like if you're going to buy in bulk, you don't tell the market you're going to buy in bulk. You buy it and then once your bags are packed, that's when you announce it. We've been calling it on the show, the billionaire FUD Playbook, where you essentially want to buy Bitcoin. You start funding Bitcoin so you can get a good price on it. Once your bags are packed, you change your mind and of course, then the price starts ripping. That was at least how the old dynamics used to play out on Bitcoin price action. Now, it is a little bigger.

There's a lot more investors, there's a lot more interests, again, a lot of capital is flowing its way into Bitcoin. So arguably, one person can't really affect the price anymore. I think it used to be in the past, but we'll see how this moves on. Anyways, my view initially is hearing the clip is like, it's really not anything we haven't heard before. Though there is one little tidbit that Patrick Witt, I think was later quoted as saying, essentially, again, we've been following the saga since 2024, since the announcement of Trump saying, we're going to be the Bitcoin capital of the world in America, since the executive order in, what, 2025 of creating the Strategic Bitcoin Reserve. Up until now, we've been covering all the ups and downs on it, whether there even is a Strategic Bitcoin Reserve, which seems to be the latest kind of take on everything. It seems like it's just been in writing and all the various agencies that have Bitcoin, even though they're supposedly all going into one holding under the federal government, as far as we know, up to this point, every various agency that has Bitcoin is not only still custodying that Bitcoin, but further able to do whatever they are allowed to do with that Bitcoin. So that's why we're seeing rumors of maybe they're selling Bitcoin. Maybe the US doesn't have all of the 328,000 coins that they supposedly have.