In the vast, perplexing universe of government finance, the US is currently hoarding approximately 378,372 Bitcoin, which, if you’re wondering, is worth more than $24 billion-or the GDP of a small moon. However, despite this digital treasure trove, the US government has yet to purchase a single shiny new Bitcoin since President Trump’s grand executive order to establish a Strategic Bitcoin Reserve. It’s almost as if they think Bitcoin will just magically grow on trees.
According to the ever-reliable Arkham Research (who definitely aren’t from a comic book), the government’s crypto strategy has been about as effective as trying to catch a greased pig at a county fair. Once again, we find ourselves in the age-old tale of political goodwill that doesn’t quite translate into action. David Bailey, a former crypto advisor to the Trump administration, seems to think this gap could tell a very riveting story, possibly even one worthy of a Netflix miniseries.
Liking Isn’t Enough: A Bailey Perspective
“Liking Bitcoin is not enough,” Bailey proclaimed last week during his keynote at the Bitcoin Investor Week Conference in New York City, where the air was thick with optimism and the faint smell of overpriced coffee. He drew a distinction between politicians who merely express their affection for Bitcoin and those who actually roll up their sleeves and do something about it. Spoiler alert: not many do.
The Real Challenge: Political Capital
Bailey acknowledged the administration made a commendable first step-though he stopped short of suggesting they should get a trophy. But as we all know, first steps do not guarantee a second unless someone pushes through the endless layers of bureaucracy and skepticism that make crossing the street seem like an Olympic event.
Reports indicate that the White House’s own AI and crypto coordinator, David Sacks, recognized the uphill battle early on. Just two months after the executive order was signed, he declared that increasing the government’s Bitcoin stash would require a “budget-neutral” approach-a concept that apparently leaves most politicians scratching their heads like confused cats in front of a mirror.
This constraint has proven to be about as flexible as a concrete block. There hasn’t been a shred of a public framework on how to navigate this maze.
Bailey didn’t mince his words. “Unless you’re willing to bear the political capital necessary to mobilize the different gears to move the ball forward,” he exclaimed, “the outcome remains unchanged, regardless of whether a politician has a Bitcoin t-shirt.”
He unflinchingly pointed out the difference between simply chatting about Bitcoin over brunch and actually doing the work needed to back it up-something most politicians have a remarkable talent for avoiding.
Bailey’s Optimistic Outlook on Bitcoin
But wait, there’s a twist! Despite the gloom, Bailey exhibited a glimmer of hope, asserting that Bitcoin doesn’t rely on government intervention to thrive or expand. The pressing question, he suggests, is merely a matter of timing. “Whether it’s four years, ten years, or twenty years down the line,” he said, “we’ll eventually have a government that understands the rules Bitcoin needs to prosper.”
Now running KindlyMD, a Bitcoin treasury company, Bailey’s focus is on expanding ownership rather than waiting for political miracles. More Bitcoin owners mean more voters invested in pro-Bitcoin policies-and that, he argues, is what makes its eventual adoption as inevitable as taxes on April 15th.
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2026-03-05 09:04