Trump Administration Eyes Massive Bitcoin Accumulation, Says Executive Director
The Trump administration is making bold moves in the world of Bitcoin, with officials expressing their dedication to increasing the U.S. government’s BTC holdings. Bo Hines, the Executive Director on Digital Assets for President Trump, recently spoke at the Digital Assets Summit in New York, emphasizing the administration’s commitment to acquiring Bitcoin on a large scale.
Hines stated, “It’s about time that our President started building assets for the American people, rather than depleting them.” He revealed that discussions at President Trump’s first digital assets summit focused on strategies to acquire more Bitcoin in a budget-neutral manner.
When asked about the amount of Bitcoin the government aims to hold, Hines drew a comparison to gold, stating, “It’s like asking a country how much gold they want – as much as we can get.”
These statements align with the administration’s recent actions, including President Trump’s executive order on March 6, which established the U.S. Strategic Bitcoin Reserve. This initiative repurposes seized BTC to create a long-term Bitcoin reserve under government control. The following day, David Sacks, President Trump’s crypto advisor, emphasized the importance of this move, highlighting Bitcoin’s scarcity and value as strategic assets for the United States.
In addition to retaining Bitcoin, the administration is exploring ways to increase its holdings without burdening taxpayers. President Trump announced at the White House Digital Asset Summit that the Treasury and Commerce Departments would explore new avenues to acquire additional Bitcoin for the reserve.
The establishment of the Strategic Bitcoin Reserve has sparked legislative action, with U.S. Rep. Byron Donalds introducing a bill to solidify the initiative into law. Meanwhile, U.S. Senator Cynthia Lummis and Congressman Nick Begich have proposed a measure calling for the purchase of 200,000 BTC per year for the next five years, totaling 1 million BTC to be held for a minimum of 20 years.
Given Bitcoin’s limited supply and growing institutional adoption, the administration views BTC as a crucial asset for the nation’s financial future. Hines emphasized that Bitcoin is not a security but a commodity with intrinsic value, likening it to digital gold.
The Trump administration’s focus on Bitcoin signals a significant shift in U.S. government policy towards cryptocurrency, with plans to build a substantial reserve of the digital asset for the benefit of the American people.
