Cathie Wood: Trump Could Start Buying Bitcoin for a U.S. Strategic Reserve in 2026

Cathie Wood has reignited debate around Bitcoin’s future by suggesting that the United States itself could soon become an active buyer of the world’s largest cryptocurrency.

Speaking this week, the Ark Invest founder said she believes President Donald Trump could begin directly purchasing Bitcoin for a U.S. Strategic Reserve in 2026, framing the move as both politically expedient and economically consequential as the country approaches midterm elections.

If that happens, it would mark a major shift in how governments interact with crypto markets—and could have lasting implications for Bitcoin’s price and liquidity.

In a recent appearance on the Bitcoin Brainstorm podcast, Wood argued that Trump has strong incentives to accelerate crypto initiatives before the political clock runs down.

“I have a feeling that he is going to work with his crypto and AI czar to do a few things,” Wood said, pointing to a mix of regulatory changes and potential Bitcoin purchases.

She suggested that Trump may want to avoid becoming a “lame duck” president ahead of the midterms, and that delivering on crypto-friendly promises could energize a key voter base.

According to Wood, the administration has so far relied on confiscated Bitcoin to seed its proposed Strategic Bitcoin Reserve, falling short of the original vision.

“The original intent was to own a million Bitcoin,” she said. “So far, it’s confiscated.”

That gap, Wood believes, could eventually be filled by open-market purchases.

Wood emphasized that crypto voters likely played a meaningful role in Trump’s election victory—something she thinks could influence policy decisions going forward.

“Part of the reason he won the presidency, I think, was the crypto community,” she said.

She also pointed to the Trump family’s own exposure to digital assets, suggesting personal familiarity with crypto markets could lower the barrier to more aggressive policy moves.

Taken together, Wood argues these factors make government Bitcoin purchases not just possible, but politically attractive.

Wood’s comments come amid rising concern over whether the U.S. government is fully complying with Trump’s executive order to preserve seized Bitcoin for a national reserve.

Earlier this year, Trump directed federal agencies to stop selling confiscated Bitcoin and instead transfer those assets into a Strategic Bitcoin Reserve. However, reports that some seized Bitcoin may have been liquidated have raised alarms.

Senator Cynthia Lummis of Wyoming publicly questioned why Bitcoin linked to the Samurai Wallet case appeared to move through a Coinbase Prime account and end with a zero balance.

“Why is the U.S. government still liquidating Bitcoin when POTUS explicitly directed these assets be preserved?” she asked.

The controversy has added urgency to calls for transparency—and may strengthen the case for clearer, more deliberate accumulation policies.

Despite trimming parts of Ark Invest’s valuation model, Wood remains firmly bullish on Bitcoin’s long-term trajectory. Her bull-case price target of $1.2 million remains intact.

Ark adjusted its assumptions after stablecoins grew faster than expected, reducing Bitcoin’s projected role as an emerging-market safe haven. Stablecoins, now nearing a $300 billion market cap, have become a major source of demand for U.S. Treasurys and a practical alternative for cross-border payments.

Still, Wood argues Bitcoin’s “digital gold” narrative has compensated for that shift.

“Our bull price really hasn’t changed,” she said. “We’re still reiterating long-term bullishness.”

If the U.S. were to begin buying Bitcoin outright, the impact could be substantial. Unlike private investors, a sovereign buyer would not be motivated by short-term profits.

The original idea of accumulating one million Bitcoin—about 5% of the total supply—would represent a massive structural change to the market. Even gradual purchases could tighten liquidity and alter supply-demand dynamics.

Whether such buying alone could drive Bitcoin toward seven figures remains uncertain, but it would undeniably add a powerful new force to the market.

In the short term, Bitcoin remains range-bound. Analysts note that BTC has traded between roughly $85,600 and $93,700 for months, showing no clear directional bias.

A breakout above key resistance could open a path toward six figures, while a breakdown below support could invite a deeper pullback.

For now, Wood’s thesis looks further ahead—toward a future where Bitcoin is not just held by institutions and individuals, but potentially by governments themselves.