Refuted Bitcoin Proposal: The U.S. Lacks a Legal Framework for Government Purchases

RetailTherapist · 2026-02-22T18:07:55+00:00

Jim Cramer's claims about the U.S. government potentially purchasing Bitcoin at $60,000 are contradicted by experts, who point out that specific Congressional legislation is required, and none currently exists. The federal government only holds Bitcoin obtained through confiscation, not through purchases, while some states are considering their own laws to establish Bitcoin reserves.

RetailTherapist

2026-02-22 18:07:55

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The claims made by commentator Jim Cramer that the U.S. government could acquire Bitcoin at $60,000 have been refuted by industry experts. The analyzed claim is based on the absence of a legal framework to support such an official purchase operation.

Legislative Barrier

For the United States to establish a formal Bitcoin reserve, specific legislation approved by Congress would be necessary. Currently, none of the proposed bills include such authorization. This legal reality marks a fundamental difference between what some speculate and what is actually feasible from a regulatory standpoint.

Current Reality: Confiscations versus Acquisitions

The federal government’s Bitcoin holdings come exclusively from confiscations related to criminal activities, not deliberate purchases. This legal distinction is crucial to understanding why the government cannot simply “buy” cryptocurrencies like any private investor.

State-Level Movement

While the federal government faces legal restrictions, some state governments are exploring their own legislation to maintain strategic BTC reserves. This decentralized trend represents an alternative path to the federal approach, reflecting the growing interest in Bitcoin as a potential asset.

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