A White House official has confirmed that the Trump administration is committed to accumulating as much Bitcoin as possible, reinforcing its strategic Bitcoin reserve initiative. Speaking at a closed-door roundtable hosted by the Bitcoin Policy Institute, Bo Hines, executive director of the Presidential Working Group on Digital Assets, emphasized that the government鈥檚 BTC acquisitions would be budget-neutral, ensuring no direct taxpayer cost.
Key Takeaways from the Bitcoin Roundtable
- The White House sees Bitcoin as a key asset for America鈥檚 financial future.
- Bo Hines likened BTC acquisitions to accumulating dollars, signaling no upper limit on Bitcoin holdings.
- Bitcoin industry leaders and U.S. lawmakers attended, including:
- Michael Saylor (Strategy Co-Founder)
- Fred Thiel (MARA Holdings CEO)
- Nathan McCauley (Anchorage Digital CEO)
- David Bailey (Bitcoin Magazine CEO)
- Senators Cynthia Lummis (R-WY), Bill Hagerty (R-TN), and Bernie Moreno (R-OH)
The U.S. Bitcoin Act: Formalizing the Strategic Bitcoin Reserve
- Senator Cynthia Lummis reintroduced the Bitcoin Act, which would:
- Require the U.S. government to purchase up to 1 million BTC (~$80 billion).
- Legally establish the Strategic Bitcoin Reserve as a permanent financial asset.
- Use revenues from gold certificate revaluation to fund BTC purchases.
- The White House supports legislation establishing the Bitcoin Reserve, but has not formally endorsed a specific bill.
How Much Bitcoin Does the U.S. Government Already Hold?
- The U.S. currently holds nearly 200,000 BTC, primarily acquired through civil and criminal forfeitures.
- Senior White House officials are pushing for additional BTC purchases, as long as they remain budget-neutral.
Will the U.S. Bitcoin Accumulation Drive BTC Prices Higher?
- Bitcoin surged 5.27% following reports of the White House鈥檚 BTC strategy, trading at $83,548.
- Institutional investors are closely watching the government鈥檚 moves, as state-level BTC accumulation could accelerate mainstream adoption.
- The March 7 White House Crypto Summit is expected to clarify further details on the Bitcoin Reserve.
With Bitcoin becoming a key focus of U.S. financial strategy, its potential role as a sovereign reserve asset could reshape global economic dynamics.
Hidden Insight
If the U.S. begins accumulating Bitcoin at scale, other nations may follow suit, triggering a global race for BTC reserves. This could cement Bitcoin鈥檚 role as a sovereign financial asset, reshaping the international monetary system and challenging traditional fiat reserves.