Trump Likely to Delay Bitcoin Purchases Until Price Drops, Says Bitwise’s Jeff Park #CriptoNews

Jeff Park from Bitwise predicts that President Trump will hold off on further Bitcoin purchases until the price nears $60,000.

His comments come amid speculation about the U.S. expanding its Strategic Bitcoin Reserve without increasing taxpayer costs. Park argues that politicians, especially the President, are cautious about buying at high prices due to the reputational risks associated with market downturns.

With the U.S. already controlling around 200,000 BTC, valued at $17 billion, mostly seized through asset forfeitures, Park believes political figures are more inclined to wait for a better entry point.

The reserve cannot sell these assets but is tasked with finding “budget-neutral” ways to acquire more. Park highlights that public pension managers can invest in Bitcoin with more flexibility, contrasting with the risk-averse nature of public officials facing short-term political scrutiny.

Public officials’ cautious approach stems from their need to protect their image, as buying at high prices and seeing a significant dip in value could lead to significant political and media backlash.

In short, while the U.S. aims to grow its Bitcoin reserves, Park believes officials will wait for lower prices to minimize political fallout. With the rise of strategic initiatives like the Bitcoin reserve, Park suggests that long-term investments in digital assets will become more common among government bodies, though these decisions will always be weighed heavily against the risks involved.