White House Digital Assets Chief Bo Hines Confirms Ongoing Plans for Strategic Bitcoin Reserve
Bo Hines, the digital assets chief at the White House, has affirmed that plans for a strategic Bitcoin reserve are still active, despite their absence from a recent policy report.
In an interview on “Crypto in America,” Hines, who serves as the executive director of the President’s Council of Advisers on Digital Assets, stated, “We do believe in accumulation,” when discussing the U.S. strategic Bitcoin reserve. He emphasized that the reserve has already been established, alongside a national digital assets stockpile, noting that Bitcoin stands out as a unique asset.
While he expressed the administration’s commitment to acknowledging developments across various ecosystems, he refrained from mentioning specific digital assets or platforms. Hines highlighted the importance of building the necessary infrastructure carefully to ensure long-term success, stating that there are “countless ways” to accumulate Bitcoin.
“I think people will be very pleased with our direction, and we’ll begin making progress soon,” he added.
Absence of Bitcoin Reserve in Recent Report
The President’s Working Group on Digital Asset Markets recently released recommendations aimed at enhancing American leadership in digital financial technology, but did not mention the Strategic Bitcoin Reserve. Hines clarified that the report’s priorities focus on establishing a clear and robust regulatory framework.
Bo Hines talks about strategic Bitcoin reserves. Source: Crypto in America
“We recognize the significance of the strategic Bitcoin reserve, and we are strong supporters of Bitcoin and its community. We want to deliver for them, and I’m confident we will,” he said.
When questioned about the amount of Bitcoin held by the federal government, Hines stated, “I can’t discuss that right now.” He indicated that while there are reasons for not disclosing this information, the government aims to acquire as much Bitcoin as possible and will continue to pursue that goal.
According to Nansen, the U.S. government currently holds approximately 198,000 BTC, valued at around $2.35 billion. President Trump formally established the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile through an executive order in March.
Source: Cointelegraph Edited by Bernie S.