Trump Bitcoin Whitepaper Video Is Fake — But a Real Push for 1M BTC in U.S. Reserves Is Underway

The crypto market has been in consolidation for almost two weeks now, as we saw only small gains and losses. This comes after the crypto market saw a dramatic rise and fall in early March. One of the most volatile assets in early March was Bitcoin, which first climbed over $100K and then fell below $80k. However, since then, we have had no significant movement, as most Bitcoin investors wait for Donald Trump’s next major announcement. This boredom might have affected some investors too heavily, as today we saw a laughable development in the crypto space.

The Viral Hoax: Trump Unveiling Bitcoin’s Whitepaper

Over the past week, a fake Donald Trump video has been circulating on social media. This video shows Trump unveiling the Bitcoin whitepaper in the Oval Office of the White House. The Bitcoin whitepaper video is obviously fake and low quality, parodying the original where the Declaration of Independence is revealed. However, as it shows, seeing Nakamoto’s manifesto in the Oval Office would have made a much bigger impact on social media. 

The Bitcoin whitepaper is framed in the White House and you think the bull run is over 🫵🤣

pic.twitter.com/VFHSLzG9Hz

— BTC Bro (@BTC_broo) March 22, 2025

In the Bitcoin whitepaper video, we also hear a few phrases by Donald Trump. “You think Joe Biden would do this? I don’t think so,” Trump says, grinning. “…Do you think he even knows what it is?” Social media platforms like Meta and X have both tagged the video as manipulated. The original video is from a Fox News program, where the US president shows a copy of the Declaration of Independence. Although the Donald Trump video is fake, its popularity does give an important message. Before Trump, no one would believe the president of the USA would put Bitcoin’s Whitepaper in the Oval Office.

A Game Changer in Crypto: Trump Push for Digital Economy

This is because, at first, most people called Trump’s pro-crypto campaign just another way to gain support. Such a belief was also logical, as he was launching memcoins and NFTs, which many saw as a sign of another cash grab. However, since his inauguration, Trump has shown an aggressive push for rewriting all the anti-crypto laws and regulations. Based on his campaign speech, he is trying to make the USA “the crypto capital of the world.” This was set into stone when he signed an executive order to start the strategic Bitcoin reserve. 

The Buzz Dies Down: Why Crypto Enthusiasts Aren’t Excited

However, the crypto community and market’s reaction to this news was underwhelming and showed dissatisfaction. This low level of excitement was attributed to the lack of a plan for purchasing more Bitcoin in the executive order. Since then, Bitcoin has been trading around the $85,000 mark. But the next market frenzy might start soon, as a member of the White House has revealed a Bitcoin purchase plan. Based on the reports, the administration can use its gold reserve to add to its strategic Bitcoin reserve. 

U.S. Gold Reserves Fund the Next Big Bitcoin Purchase?

Bo Hines, White House executive director of the president’s council of advisers on digital assets, continued to support his argument. “If we actually realise the gains on the U.S. gold reserve, that would be a budget-neutral way to acquire more bitcoin.”. He explained this when talking on the Crypto in America podcast. He also clarified that President Donald Trump will be choosing the best method to add BTC to the strategic Bitcoin reserve. Another idea for adding additional BTC to the reserve came from Sen Lummis. She believes that the US can buy 1 million more BTC by selling the Fed gold certificates.