Bitcoin Magazine
Trump Administration Eyes Massive Bitcoin Accumulation, Says Executive Director
The Trump administration is reinforcing its strategy regarding Bitcoin, with key officials asserting their dedication to enhancing the U.S. government’s BTC inventory. At todayโs Digital Assets Summit held in New York, Bo Hines, the Executive Director of Digital Assets for President Trump, articulated that the United States is committed to acquiring Bitcoin on an extraordinary scale.
“Itโs about time our President started gathering assets for the American populace, which is exactly what President Trump is doing instead of detracting from them,” Hines remarked. He further disclosed that during President Trumpโs inaugural digital assets summit at the White House, discussions revolved around “methods for increasing Bitcoin accumulation in a manner that is budget-neutral.”
When inquired about the anticipated amount of BTC the government plans to possess, Hines provided a direct analogy between Bitcoin and gold. “You know, I get asked all the time, how much do you want? Thatโs akin to asking a nation how much gold it desires โ as much as we can secure.”
JUST IN โ
President Trump's Executive Director on digital assets: "We talked about ways of acquiring more Bitcoin in budget neutral ways."
We want "as much as we can get."
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His remarks align with the administration’s comprehensive strategy initiated by President Trump’s March 6 executive order, which officially created the U.S. Strategic Bitcoin Reserve. This initiative repurposes BTC acquired through seizures and forfeitures, ensuring that these assets remain under governmental control as a strategic reserve for the long term. Following this, David Sacks, President Trumpโs crypto advisor, emphasized the initiative’s implications by stating to Bloomberg, “We recognize that Bitcoin is a scarce asset, it holds value, and itโs crucial for the United States to maintain this as a long-term reserve asset.”
In addition to retention strategies, the administration is seeking methods to increase its Bitcoin holdings without imposing costs on taxpayers. At the White House Digital Asset Summit, President Trump himself expressed that โThe Treasury and Commerce Departments will also investigate innovative routes to augment our Bitcoin reserves.โ
The formation of the Strategic Bitcoin Reserve has ignited further legislative initiatives. U.S. Representative Byron Donalds proposed a bill to enshrine Trumpโs initiative into law, safeguarding it for future administrations. Concurrently, U.S. Senator Cynthia Lummis and Congressman Nick Begich have introduced a separate proposal advocating for the U.S. to acquire 200,000 BTC annually over the next five years, culminating in a total of 1 million BTC, intended to be held for no less than 20 years.
With Bitcoin supply being finite and institutional interest surging, the administration regards BTC as a vital asset for the financial prospects of the nation. Hines articulated, “We view Bitcoin as not merely a security but a commodity. Its inherent value is well established, and itโs accepted traditionallyโฆ which is precisely why in the executive order we likened it to digital gold.”
This article Trump Administration Eyes Massive Bitcoin Accumulation, Says Executive Director was originally featured on Bitcoin Magazine and was authored by Nik.
