I recently heard an interesting point of view: the US government may soon start directly purchasing Bitcoin on the market, rather than just relying on confiscation to fill the national reserves.

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

Why is this happening? Wood believes the key lies in political realities. Under the pressure of midterm elections, the Trump administration still places significant importance on crypto topics. First, Trump himself and his family have increasing interests in this field; second, the crypto community's mobilization during 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 pathway to the future," she commented.

In terms of actual actions, the government has signed several executive orders to establish Bitcoin reserves and crypto asset inventories, and has also formed a crypto and AI working group led by David Sacks to push forward a series of bills, including stablecoin legislation. These signals, combined, indeed suggest that the likelihood of market purchases is increasing.