The Trump Administration’s Crypto Czar says the US could gobble up more Bitcoin (BTC) to add to its upcoming strategic reserve.

In a new interview on the All-In Podcast, renowned venture capitalist and Crypto Czar David Sacks says that the government would be allowed to purchase more of the top crypto asset by market cap to add to its strategic reserve if certain budgetary conditions are met.

“I’m talking about Treasury and Commerce – they’re allowed to figure out strategies to accumulate more Bitcoin for the reserve if those strategies are budget neutral and don’t cost the taxpayer anything. So it’s possible that we could, I’m not saying that we will, but it authorizes them to acquire more Bitcoin if they can figure out a way to do it that doesn’t impact the federal budget or the deficit or taxpayers.”

Last week, President Donald Trump signed an executive order (EO) creating a strategic Bitcoin and crypto reserve. The EO establishes a national BTC and crypto asset stockpile by holding digital assets seized from criminal activities rather than auctioning them off as had been previous practice.

Also last week, Sacks revealed that the US Federal Government lost out on tens of billions of dollars in Bitcoin growth by previously selling some of the BTC it had in its possession. As stated by Sacks at the time,

“If the government had held the Bitcoin, it would be worth over $17 billion today. That’s how much it has cost American taxpayers not to have a long-term strategy.”

According to data from market intelligence firm Arkham, the Federal government currently holds about $16.4 billion worth of the flagship digital asset.

Bitcoin is trading for $82,524 at time of writing, a 3.2% decrease on the day.

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Treasury Secretary Howard Lutnick insists the U.S. economy is on solid footing despite concerns from Wall Street that a recession is in the cards.

“Absolutely not,” he said on a Sunday edition of Meet the Press when asked if Americans should prepare for a downturn.

“There’s going to be no recession in America,” he continued. “It’s like the same people who thought Donald Trump wasn’t a winner a year ago. Donald Trump is a winner. He’s going to win for the American people.”

A recession is two consecutive quarters of economic contraction, caused by imbalances from external or internal factors, or combination of both.

This argument contradicts comments made by the President earlier, who didn’t rule out a recession, calling it part of a transition.

Lutnick argued that Trump’s tariff strategy will force other countries to lower their trade barriers, unleashing American growth and driving $1.3 trillion in new investment.

“We’re going to unleash America out to the world,” he said in response to warnings from JPMorgan and Goldman Sachs about a tariff-induced recession. “You are going to see over the next two years the greatest set of growth coming from America.”

While Lutnick acknowledged that tariffs could make foreign goods more expensive, he framed them as part of a broader effort to cut the deficit and lower borrowing costs.

“When you balance the budget… you drive interest rates down 150 basis points. Mortgages come smashing down. The cost of your home will come smashing down,” he said.

Crypto traders, however, don’t seem to have the same optimism.

Bitcoin (BTC) fell 7% on Sunday, dropping to $80,000 and nearing its 2025 low of $78,000.

Ether (ETH), Solana (SOL), and XRP (XRP) followed, while meme coins like Dogecoin (DOGE) and Cardano (ADA) tumbled nearly 12%.

On Polymarket, bettors are increasingly bracing for a slowdown, although the chances of one occurring remain slim.

A contract asking about the probability of a U.S. recession in 2025 has seen the Yes odds jump to 41%, a 16% increase in recent weeks.

Meanwhile, the latest U.S. jobs report showed 151,000 jobs added in February, CoinDesk recently reported, roughly in line with expectations, although the unemployment rate ticked up to 4.1% and January’s job gains were revised lower.

However, layoffs in the public sector as part of the White House’s DOGE efforts may push these numbers up next quarter.

While labor market resilience has kept recession calls at bay, signs of slowing growth are emerging, with the Atlanta Fed’s GDPNow model forecasting a negative 2.8% Q1 growth rate.

However, another contract gives just 3% chance of a recession happening before May. The first quarter ends March 31.

On Mar. 10, Bitcoin’s price dropped to $80,052, reflecting a 7% decline over the past 24 hours, as uncertainty surrounding Trump’s economic policies continues to impact the market. As of this writing, Bitcoin is trading at around $82,200.

According to crypto.news price tracker, the overall cryptocurrency market saw a 7% decline, reaching a valuation of $2.77 trillion. While Solana (SOL) and XRP (XRP) registered 7% losses each, Ethereum (ETH) fell 8% to trade close to $2,000. Bitcoin’s (BTC) dominance, at 58.2%, has remained steady despite the decline. Bitcoin trades at $82,200 levels as of this writing.

Over the last 24 hours, the market downturn has led to $616 million in liquidations, according to Coinglass data, with long positions bearing the brunt of the losses at $540.49 million. The losses from Bitcoin alone totaled $231 million.

Adding to the uncertainty, Bitcoin futures on the Chicago Mercantile Exchange opened at $82,110 on Mar. 10, down $4,320 from a close of $86,430 the previous day. After a record $10,350 decrease on Mar. 3, this was the second-largest single-day plunge on CME futures this month.

The market downturn was caused by growing market uncertainty after U.S. President Donald Trump admitted in a Mar. 9 Fox News interview that his economic policies would bring temporary economic pain. His remarks regarding budget cuts and trade tariffs sparked worries about possible market volatility, which made investors cautious about investing in cryptocurrency and other financial markets.

Some investors have compared the potential for economic disruptions to the harsh anti-inflation policies of former Federal Reserve Chairman Paul Volcker in the 1980s. While Volcker’s measures stabilized inflation and spurred long-term growth, they initially caused a significant market instability.

BitMEX co-founder Arthur Hayes has cautioned that Bitcoin might fall lower, even retesting $78,000. He pointed out that many Bitcoin options are priced between $70,000 and $75,000, which may cause additional volatility if prices go into that region.

Traders are now watching key economic reports this week, including the U.S. Consumer Price Index on Mar. 12 and the Producer Price Index on Mar. 13. These events could dictate Bitcoin’s next move.