White House Dismisses Gold-for-Bitcoin Rumors, Eyes Budget-Neutral Expansion

David Sacks, the White House’s top official on crypto policy, clarified that the Trump administration has not considered selling gold reserves to boost its Bitcoin holdings.

While rumors have circulated online, he confirmed that no such discussions have taken place.

Sacks explained that any financial strategies related to the newly established Strategic Bitcoin Reserve would ultimately be decided by the Treasury and Commerce Secretaries. Although they will be exploring budget-neutral ways to expand the reserve, he emphasized that no concrete plans have been made yet.

This statement follows President Trump’s recent executive order creating the Strategic Bitcoin Reserve, which consolidates roughly 200,000 BTC—valued at around $17 billion—acquired through government seizures. The directive tasks the Treasury and Commerce Departments with devising methods to acquire more Bitcoin without increasing costs for taxpayers.

Maintaining budget neutrality is a key priority, as any new government spending would require congressional approval. The administration is also making a clear distinction between Bitcoin and other cryptocurrencies. A senior White House official stated that Bitcoin is uniquely positioned due to its security, decentralization, and lack of a centralized issuer, setting it apart from assets like Ethereum, Solana, XRP, and Cardano.