Jeff Park, Head of Alpha Strategies at Bitwise, has suggested that U.S. President Donald Trump will delay any further Bitcoin purchases until its price drops to around $60,000. Park’s comments, shared on March 9 via his official X account, come as speculation grows regarding how the administration plans to expand the newly established U.S. Strategic Bitcoin Reserve without additional taxpayer costs.

Why Trump Needs Bitcoin to Drop First

On March 6, 2025, President Trump signed an Executive Order creating the Strategic Bitcoin Reserve. The initiative aims to solidify America’s role in the digital asset market, with the government already holding approximately 200,000 BTC—worth about $17 billion at current market prices. These assets were primarily acquired through criminal and civil asset seizures and remain under audit.

While the Executive Order prohibits selling the Bitcoin within the reserve, it also instructs the Treasury and Commerce Departments to explore “budget-neutral” methods for accumulating more BTC. This directive seeks to ensure that expanding the reserve doesn’t impose financial burdens on taxpayers.

The Political Risks of Buying Bitcoin at High Prices

According to Jeff Park, political figures like Trump face unique challenges when it comes to Bitcoin investments. Unlike institutional investors who may follow market trends, government officials tend to avoid purchasing at high price levels due to potential backlash.

Park elaborated on this by explaining that politicians, especially high-profile ones like Trump, must carefully manage risk. If Trump were to buy Bitcoin at $100,000 and the price later dropped to $70,000, he would likely face significant public criticism. On the other hand, if BTC falls to $60,000 before he makes a move, he could claim credit for making a smart financial decision.

The Incentive for a Lower Bitcoin Price

Park argues that the incentives for government officials shift dramatically when Bitcoin becomes “cheap” by historical standards. He believes that waiting for BTC to reach lower levels aligns with the political and economic objectives of the administration.

For politicians, making financial decisions that can be immediately criticized is often seen as a bigger risk than missing out on potential gains. Park noted that when BTC is at higher price levels, the risk-reward calculation becomes less favorable for public officials. However, when the price drops significantly, it becomes a more attractive asset for institutional and sovereign buyers alike.

The Strategic Bitcoin Reserve as a ‘Digital Fort Knox’

The U.S. government’s Strategic Bitcoin Reserve has been compared to a modern-day Fort Knox, designed to enhance national financial security in the digital age. White House Crypto and AI Czar David Sacks has emphasized its role in establishing America’s leadership in the crypto space.

Despite these ambitions, Park believes that for the reserve to succeed, it must be structured effectively. He highlights the importance of:

• Programmatic Buying vs. Discretionary Decisions – A structured, rule-based acquisition strategy can create stability.
• Shared Decision-Making – Distributing accountability can reduce political risk.
• Legislative Safeguards – Ensuring long-term commitment through laws or internal government policies.

Pension Funds and Bitcoin: A Different Approach

Park also contrasts the cautious approach of politicians with the bolder moves made by some public pension fund Chief Investment Officers (CIOs). Unlike elected officials, pension fund managers operate under long-term mandates, allowing them to incorporate Bitcoin into their portfolios without immediate public scrutiny.

He expressed admiration for these CIOs, calling them “true patriots” for prioritizing long-term financial stability over short-term public opinion. Their ability to think strategically, rather than reactively, gives them a significant advantage when navigating Bitcoin investments.

Conclusion: Will Trump Buy Bitcoin at $60K?

While there is no official confirmation of Trump’s exact Bitcoin strategy, Park’s insights suggest that the administration may wait for BTC to drop before making any further acquisitions. This cautious approach aligns with the risk-averse nature of government financial decisions. If Bitcoin falls to $60,000, Trump could use the opportunity to make a strategic purchase while avoiding the political fallout of buying at higher levels.

As Bitcoin continues to experience volatility, all eyes will be on the administration’s next move. Whether Trump decides to buy at a lower price or rethink the reserve’s strategy, his Bitcoin policies could have long-lasting implications for the cryptocurrency market.