[Jim Cramer: The U.S. will establish a strategic reserve at a price of $60,000] According to Golden Finance, market commentator Jim Cramer stated on CNBC that the Trump administration plans to purchase Bitcoin for the proposed U.S. Strategic Bitcoin Reserve amid ongoing market volatility. Cramer said on Friday's Squawk on the Street program: 'I’ve heard that if Bitcoin drops to $60,000, the president will replenish the Bitcoin reserve.' This statement was made during a sharp sell-off in Bitcoin earlier this week, when BTC briefly approached $60,000 before rebounding above $70,000. If the government were to purchase at that price, Bitcoin would need to drop more than 15% for the reserve plan to be executed.