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Bo Hines reveals Trump administration's plans to ramp up bitcoin acquisition

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Home Cryptocurrency

Bo Hines reveals Trump administration’s plans to ramp up bitcoin acquisition

Abimbola Samuel by Abimbola Samuel
March 19, 2025
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Bo Hines reveals Trump administration's plans to ramp up bitcoin acquisition

Bo Hines reveals Trump administration's plans to ramp up bitcoin acquisition

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At the Blockworks’ Digital Asset Summit 2025 in New York on Tuesday, Bo Hines, Executive Director of the Presidential Council of Advisers for Digital Assets, unveiled a bold plan by the Trump administration to expand the U.S. government’s Bitcoin holdings through budget-neutral strategies, positioning the cryptocurrency as a strategic national asset similar to gold.

This summit was the first-ever institutional conference for the crypto industry held in New York.

The announcement underscored the administration’s commitment to positioning Bitcoin as a strategic national asset, like gold, while ensuring taxpayers bear no additional burden.

Read also: Trump vows to make U.S. global cryptocurrency leader at first-ever White House Crypto Summit

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Recognising bitcoin as a strategic commodity

Hines emphasised that the administration views bitcoin not as a security but as a commodity with essential value. “Bitcoin is scarce, valuable, and strategically important for the United States to hold as a long-term reserve asset,” he stated.

Drawing parallels to gold, Hines noted Bitcoin’s unique characteristics, including its decentralised nature and immutability, which make it a critical component of the nation’s financial future.

The administration’s plan includes creating the Strategic Bitcoin Reserve (SBR), an initiative first outlined in President Trump’s March 6 executive order. The SBR repurposes Bitcoin obtained through forfeitures and seizures, ensuring it remains a long-term national asset rather than being liquidated.

Hines further revealed that the Treasury and Commerce Departments are actively collaborating to identify budget-neutral methods for acquiring more Bitcoin, with a focus on retaining and growing the government’s reserves without impacting taxpayers.

As part of the strategy, Treasury Secretary Scott Bessent confirmed that the administration is working to halt the liquidation of seized Bitcoin. This move will ensure that bitcoin acquired through law enforcement actions is retained and added to the SBR rather than sold off.

“We’re looking at ways to grow our holdings without burdening taxpayers,” Hines explained, reiterating the administration’s commitment to fiscal responsibility.

Furthermore, U.S. Representative Byron Donalds has introduced a bill to formalise the Strategic Bitcoin Reserve into law, ensuring its continuity across future administrations. Also, Senator Cynthia Lummis and Congressman Nick Begich have proposed legislation calling for the United States to acquire 200,000 BTC annually over the next five years, with a long-term goal of accumulating up to 1 million BTC.

Read also: Bitcoin drops below $91,000 amid market turmoil and legislative setbacks

About Blockworks’ Digital Asset Summit 2025

Blockworks’ Digital Asset Summit is the crypto industry’s premier institutional conference. It brings together institutional investors, thought leaders and industry professionals to shape the future of digital assets and blockchain technology.

This year’s event featured insights from top executives, including Mohamed El-Erian, Chief Economic Advisor at Allianz; Binance CEO Richard Teng; Solana Labs Co-Founder and CEO Anatoly Yakovenko; Ripple CEO Brad Garlinghouse; and Blockchain Association CEO Kristin Smith among others.

Tags: Blockworks' Digital Asset Summit 2025Bo HinesNew YorkTrump
Abimbola Samuel

Abimbola Samuel

Experienced crypto writer with 2+ years of expertise. Skilled researcher and analyst delivering high-quality articles. Providing insightful perspectives on the latest crypto trends.

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