There are no sovereign liabilities denominated in bitcoin, which means there’s no obvious emergency for which “having bitcoin on hand” is the solution. Reserves should be built around the liabilities and risks you’re trying to hedge — and bitcoin’s volatility tends to amplify risk rather than reduce it.

Dallas--The Institute for Policy Innovation (IPI) is pleased that the Supreme Court has correctly decided that President Trump improperly used the 1977 International Emergency Economic Powers Act to impose harmful, capricious, sometimes malicious and often incoherent tariffs on goods purchased by American businesses and consumers. And we await the comedy of a response from the Trump administration.

This was early in Trump’s second term, when tech titans had the President’s ear. Next thing you know, President Trump fired Librarian of Congress Carla Hayden on May 8, 2025, and Shira Perlmutter—the Register of Copyrights—was dismissed days later. Multiple reports note that observers and lawmakers linked the timing to the Copyright Office’s AI report, which seems likely if not at least suspicious. 

A government bitcoin “reserve” is really government chasing fads and making highly speculative bets with taxpayer dollars. And gambling with taxpayer dollars is not a legitimate function of government.

Let's be clear about what a data center is: critical infrastructure. It's the physical home of the digital services we rely on. If policymakers are serious about economic competitiveness, they should treat data centers the way they treat all critical infrastructure.

Medicare drastically underpays independent physicians for the care they provide. According to data from the American Medical Association, payments to physicians through the MPFS have been on a slow and steady decline for decades.