Trump’s ex-crypto advisor: US government must go beyond 'liking Bitcoin'

David Bailey, a erstwhile crypto advisor to the Trump administration, argues that the US authorities could beryllium doing much to enactment Bitcoin adoption. 

“At the extremity of the day, liking Bitcoin is not enough,” Bailey said during the Bitcoin Investor Week Conference successful New York, which was published to YouTube connected Tuesday.

“The Trump medication was a precise important archetypal step, but you cognize determination is truthful overmuch further for america to spell and not conscionable successful speech but successful existent delivery,” said Bailey, who present serves arsenic CEO and Chairman of KindlyMD, a Bitcoin treasury company. 

Bailey points to stalled Strategic Bitcoin Reserve plan

Trump repeatedly voiced his enactment for Bitcoin (BTC) and the broader crypto manufacture during his statesmanlike run appearances. 

While helium signed an enforcement bid for a Strategic Bitcoin Reserve successful March 2025, it is understood that the US authorities has yet to statesman accumulating Bitcoin extracurricular of the funds seized done illicit activity. 

“We’re sitting present a twelvemonth later, the Strategic Bitcoin Reserve was signed into an enforcement order,” Bailey said. 

David Bailey speaking astatine the Bitcoin Investor Week Conference successful New York City successful February. Source: Anthony Pompliano

“Last clip I checked, we don’t adjacent cognize however overmuch Bitcoin we person exactly,” Bailey added. Data from Arkham Research shows it presently holds 378,372 Bitcoin, worthy astir $22.48 cardinal astatine the clip of publication.

Just 2 months aft Trump signed the enforcement order, White House AI and crypto czar David Sacks said the process of accumulating wouldn’t beryllium truthful straightforward, explaining that the US could bargain much Bitcoin if the authorities could money the acquisition successful a “budget-neutral” way, without a taxation oregon adding to the increasing nationalist debt. 

Industry participants became much divided connected the anticipation arsenic the twelvemonth progressed. Some stayed optimistic. Galaxy Digital’s caput of firmwide research, Alex Thorn, said successful September that determination was a “strong chance” it would inactive hap before the extremity of 2025.

Bailey said that portion Trump has been the archetypal person to champion “our worldview,” an sentiment unsocial isn’t capable to thrust Bitcoin’s terms to $1 million. 

“Just due to the fact that you similar Bitcoin doesn’t mean that you’ve invested the governmental superior indispensable for things to happen,” Bailey said.

“Unless you’re consenting to carnivore the governmental superior indispensable to mobilize the antithetic gears indispensable to determination the shot forward, past astatine the extremity of the day, you tin similar Bitcoin, you cannot similar Bitcoin, you’re going to get the aforesaid result achieved.”

Bitcoin volition win either way, says Bailey

However, adjacent without enactment from the US government, Bailey said Bitcoin volition yet succeed. “It’s not similar we request the authorities to cater for america for Bitcoin to beryllium successful,” Bailey said.

“Whether it’s 4 years from now, oregon 10 years from now, oregon 20 years from now, we volition get to the constituent wherever we really person a authorities that is conducive to the rules we request for Bitcoin to beryllium successful,” helium said.

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“I’m bullish connected what we tin execute successful this administration. If we truly privation the advancement to continue, we request much radical to ain Bitcoin each year,” Bailey said.

“We request much voters to ain Bitcoin each year. And past it is conscionable inevitable,” helium added.

Bitcoin is presently trading astatine $68,220, astir 45% beneath its October all-time precocious of $126,000, according to CoinMarketCap.

Outside the Strategic Bitcoin Reserve, Bitcoiners are eyeing the imaginable transition of the US CLARITY Act, which aims to supply the manufacture with much regulatory clarity. Trump said successful a Truth Social post connected Tuesday that “the U.S. needs to get Market Structure done, ASAP.”

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