Congressional Approval Sought Before Any U.S. Bitcoin Purchases
A former White House crypto adviser says Congress must authorize U.S. Bitcoin purchases and warns that acting first could provoke a legislative ban.
A former White House crypto adviser says Congress must authorize U.S. Bitcoin purchases and warns that acting first could provoke a legislative ban. Bitcoin (BTC) is trading at ₹60,59,261 ($64,281.00), down 3.3% since this brief published. This is an original Token Times brief based on reporting by Blockonomi, with live market data added, as of Sun, 15 Nov 2026 02:30:02 UTC.
Because Congress controls government funding, the argument puts approval, auditability and custody safeguards at the center of any future federal Bitcoin acquisition. An unauthorized purchase could also open the door to an NDAA restriction.
- Blockonomi says U.S. Bitcoin purchases require explicit congressional authorization.
- Patrick Witt warns an unauthorized move could trigger an NDAA prohibition.
- Bitcoin trades at $66,458, down 4.30% over 24 hours.
- The crypto market remains under pressure, with Extreme Fear at 13.
Blockonomi, the sole outlet covering the development, reports that Patrick Witt, a former White House crypto chief, believes the United States should obtain explicit congressional approval before buying 
Bitcoin. His position reflects the funding authority Congress holds over federal spending and assets.
Witt reportedly cautioned that moving prematurely could lead lawmakers to include a provision in the National Defense Authorization Act prohibiting the government from purchasing Bitcoin. He also questioned whether government Bitcoin holdings are fully audited and described previous government custody practices as seriously inadequate.
The report says alternatives to an immediate purchase include repricing gold, using the Exchange Stabilization Fund and accepting Bitcoin as receipts. These options were presented as ways to weigh broader asset and policy implications rather than as completed government actions.
Bitcoin is trading at $66,458, down 4.30% over 24 hours and 11.98% over seven days. Its market capitalization stands at $1.34 trillion, while the total crypto market is valued at $2.31 trillion and is broadly lower. The Fear & Greed index is at 13, classified as Extreme Fear. The issues to watch are congressional authorization, possible NDAA language, audit requirements and stronger custody standards for any government-held Bitcoin.
Since this brief published about 15 hours ago, Bitcoin (BTC) has moved from ₹62,64,469.05$66,458.00 to ₹60,59,260.51$64,281.00 — -3.28%, a notable move.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
Will Bitcoin dip to $62,500 in November?
Crowd-implied probability on Polymarket, ₹5.90M 24h volume, resolves Dec 1 — snapshotted when this brief published (Nov 14 14:05 UTC). A market price reflects what traders collectively expect; it is not a forecast by Token Times and will have moved since. View the market ↗
At today's peer-to-peer rate, 1 BTC ≈ ₹6.73M (about $64,281.00), down 4.3% over 24 hours. The rupee itself trades about 11.1% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Congressional Approval Sought Before Any U.S. Bitcoin Purcha — questions & answers
What approval does Witt say is needed?
Witt says explicit congressional authorization is required before the U.S. government purchases Bitcoin.
What could happen if the government buys first?
Blockonomi reports that Witt warned an unauthorized purchase could prompt lawmakers to add an NDAA provision banning government Bitcoin acquisitions.
What concerns were raised about government Bitcoin custody?
The report says government Bitcoin holdings are not fully audited and that previous custody practices were seriously inadequate.
How much is 1 Bitcoin worth in rupee today?
About ₹6.73M at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $64,281.00. The rupee price moves with both BTC's US-dollar price and the USDT/INR rate; use our Bitcoin in rupee page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is down 3.28% since this brief first published — trading at ₹60,59,261 ($64,281.00) now versus ₹62,64,469 ($66,458.00) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Blockonomi. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.