Thomas Daniels
Former President Donald Trump’s presidential council on digital assets executive director Bo Hines has reiterated the administration’s commitment to increasing the amount of Bitcoin held in the US. Hines stressed the need of preserving and expanding the country’s holdings of the top cryptocurrency in the world while speaking at a Blockworks event in New York on March 18.
Comparing the buildup of Bitcoin to national gold reserves, Hines said, “We want as much Bitcoin as we can get.” Following two Executive Orders that Trump has signed since taking office on January 20, his comments are consistent with the White House’s continued efforts to incorporate Bitcoin into U.S. financial policy.
The most recent order, which was issued on March 6, permitted a thorough examination of the country’s Bitcoin assets, which are currently valued at about 200,000 BTC. In order to allay worries about the financial impact, it also described possible “budget-neutral” methods for purchasing more Bitcoin.
The United States may soon lose its top spot even though it currently has the greatest sovereign Bitcoin reserve in the world. According to a Department of Justice (DOJ) request, by 2026, around 95,000 Bitcoin that was taken in the Bitfinex breach should be returned to its original owners. The United States would lag behind China in terms of sovereign Bitcoin ownership if this measure is adopted, as it would drastically cut its holdings.
The Trump administration is actively looking for ways to increase its holdings of digital gold, which further solidifies Bitcoin’s key position in the nation’s financial system.
