A recent conference hosted by Bitcoin Investor Week brought together industry leaders and experts to discuss the future of cryptocurrency. Among them was David Bailey, a former crypto advisor to the Trump administration.
According to Bailey, the US government's past expressions of support for Bitcoin are not enough to drive its adoption and success. He believes that the government must take concrete steps to create conditions conducive to Bitcoin's growth.
One area where Bailey sees room for improvement is in the Strategic Bitcoin Reserve plan, which was signed into an executive order by Trump in March 2025. However, progress has been slow, with the US still holding only a small amount of Bitcoin, approximately 378,372 units worth around $22.48 billion.
While Bailey acknowledges that the government's actions alone cannot drive Bitcoin's price to $1 million, he is optimistic about its potential and believes that it will eventually succeed, regardless of the government's involvement.