David Bailey, a former crypto advisor to the Trump administration, argues that the US authorities may very well be doing extra to help Bitcoin adoption.
“On the finish of the day, liking Bitcoin will not be sufficient,” Bailey stated in the course of the Bitcoin Investor Week Convention in New York, which was published to YouTube on Tuesday.
“The Trump administration was an important first step, however you understand there may be a lot additional for us to go and never simply in speak however in precise supply,” stated Bailey, who now serves as CEO and Chairman of KindlyMD, a Bitcoin treasury firm.
Bailey factors to stalled Strategic Bitcoin Reserve plan
Trump repeatedly voiced his help for Bitcoin (BTC) and the broader crypto trade throughout his presidential marketing campaign appearances.
Whereas he signed an government order for a Strategic Bitcoin Reserve in March 2025, it’s understood that the US authorities has but to start accumulating Bitcoin exterior of the funds seized by way of illicit exercise.
“We’re sitting right here a 12 months later, the Strategic Bitcoin Reserve was signed into an government order,” Bailey stated.
“Final time I checked, we don’t even know the way a lot Bitcoin now we have precisely,” Bailey added. Information from Arkham Analysis shows it at the moment holds 378,372 Bitcoin, price roughly $22.48 billion on the time of publication.
Simply two months after Trump signed the manager order, White Home AI and crypto czar David Sacks stated the method of accumulating wouldn’t be so simple, explaining that the US may purchase extra Bitcoin if the federal government may fund the acquisition in a “budget-neutral” approach, with out a tax or including to the rising nationwide debt.
Trade contributors turned extra divided on the chance because the 12 months progressed. Some stayed optimistic. Galaxy Digital’s head of firmwide analysis, Alex Thorn, stated in September that there was a “sturdy likelihood” it will nonetheless occur before the end of 2025.
Bailey stated that whereas Trump has been the primary politician to champion “our worldview,” an opinion alone isn’t sufficient to drive Bitcoin’s value to $1 million.
“Simply since you like Bitcoin doesn’t imply that you simply’ve invested the political capital mandatory for issues to occur,” Bailey stated.
“Except you’re keen to bear the political capital essential to mobilize the totally different gears mandatory to maneuver the ball ahead, then on the finish of the day, you may like Bitcoin, you can not like Bitcoin, you’re going to get the identical consequence achieved.”
Bitcoin will succeed both approach, says Bailey
Nevertheless, even with out motion from the US authorities, Bailey stated Bitcoin will finally succeed. “It’s not like we want the federal government to cater for us for Bitcoin to achieve success,” Bailey stated.
“Whether or not it’s 4 years from now, or 10 years from now, or 20 years from now, we’ll get to the purpose the place we even have a authorities that’s conducive to the foundations we want for Bitcoin to achieve success,” he stated.
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“I’m bullish on what we will accomplish on this administration. If we actually need the progress to proceed, we want extra individuals to personal Bitcoin yearly,” Bailey stated.
“We’d like extra voters to personal Bitcoin yearly. After which it’s simply inevitable,” he added.
Bitcoin is at the moment buying and selling at $68,220, roughly 45% beneath its October all-time excessive of $126,000, according to CoinMarketCap.
Outdoors the Strategic Bitcoin Reserve, Bitcoiners are eyeing the potential passage of the US CLARITY Act, which goals to offer the trade with extra regulatory readability. Trump stated in a Fact Social post on Tuesday that “the U.S. must get Market Construction performed, ASAP.”
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