Recently I heard an interesting perspective: the US government may be about to enter the market and directly purchase Bitcoin, rather than relying solely on confiscated assets to fill national reserves.

ARK Invest founder Cathie Wood mentioned in a recent podcast that although the Trump administration has established a Bitcoin reserve framework through executive order, so far all BTC in the reserve consists of assets seized by law enforcement — there have been no actual market purchases yet. "Their initial goal is to accumulate 1 million Bitcoin," she said, "so eventually they will definitely start buying actively."

Why would this happen? Wood believes the key lies in political reality. The Trump administration, under pressure from the midterm elections, continues to place considerable emphasis on crypto topics. On one hand, Trump himself and his family have increasingly deep interests in this field; on the other hand, the mobilization power of the crypto community in the last presidential election cannot be ignored. "He doesn't want to be a lame duck president, he wants to have another one or two years of effective governance, and he sees crypto as a gateway to the future," she assessed.

From actual actions taken, the government has already signed several executive orders to establish Bitcoin reserves and crypto asset inventories, and has even established a cryptocurrency and AI working group led by David Sacks to promote a series of bills including stablecoin legislation. These signals combined together do suggest that the possibility of market purchases is increasing.