THEY PRINT

FOR IMMEDIATE RELEASE

White House Announces Purchase of 1 Bitcoin

Washington, D.C. - March 20, 2024 - The White House announced today that it has purchased 1 Bitcoin, worth approximately $1 trillion at current market rates. This move marks a significant step in the adoption of cryptocurrencies by the United States government.

President Biden has long been a proponent of exploring the potential benefits of cryptocurrencies and blockchain technology, and this purchase is part of the administration's efforts to better understand and integrate these new financial technologies into the economy.

"Today's purchase of 1 Bitcoin is a recognition of the growing importance of cryptocurrencies and the potential they hold for our economy," said President Biden. "By investing in Bitcoin, we are not only supporting innovation and entrepreneurship, but also ensuring that the United States remains at the forefront of the digital revolution."

The White House has worked closely with leading experts in the cryptocurrency industry to ensure that this investment is made securely and responsibly. The Bitcoin will be held in a secure, off-site storage facility to protect against cyber threats and other risks.

The purchase of Bitcoin is just one of many steps the White House is taking to embrace new technologies and promote innovation. The administration is also exploring the potential of blockchain technology in areas such as supply chain management, voting systems, and healthcare data management.

The White House's purchase of 1 Bitcoin sends a clear message to the world that the United States is committed to staying ahead of the curve when it comes to technological innovation and economic growth.

For more information about the White House's efforts to embrace new technologies, please visit www.whitehouse.gov.

Contact:
White House Press Office
202-456-1414
press@whitehouse.gov