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The Trump administration appears poised to grow its Strategic Bitcoin Reserve after the White House’s crypto council head suggested budget-neutral ways for acquiring the digital asset.
“There’s been countless ideas” about how the government can acquire more Bitcoin (BTC), Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, said in an interview with the Crypto in America podcast.
Bo Hines said the crypto council is open to creative ways to build the government’s Strategic Bitcoin Reserve. Source: Eleanor Terrett
Perhaps the best way of doing so would be to realize the gains on the government’s gold certificates, which are priced far less than bullion is actually worth today.
“I’ll actually point you to Senator [Cynthia] Lummis’ Bitcoin Act of 2025, in which she believes that we can identify the real true value of some of these gold certificates,” Hines said.
“If we actually realize the gains on [these holdings], that would be a budget-neutral way to acquire more Bitcoin,” he said.
As the Federal Reserve Bank of St. Louis explains, all gold certificates held at Fed banks are “computed at a statutory price of $42.22 per troy ounce.” By comparison, spot gold is currently valued at more than $3,000 an ounce.
Senator Cynthia Lummis’ proposed BITCOIN Act of 2025 lists “Federal Reserve System gold certificates” as one source of funding for Bitcoin purchases.
The bill requires that Fed banks “tender all outstanding gold certificates in their custody to the Treasury Secretary” so that the secretary can issue new certificates “that reflect the fair market value price of the gold held against such certificates by the Treasury.”
Hines said he’s open to any ideas about how to grow the reserve, so long as it “doesn’t cost the taxpayer a dime.” That’s the crux of budget-neutral strategies for acquiring Bitcoin laid out in President Donald Trump’s March 6 executive order.
The US government currently holds roughly 207,000 BTC seized in criminal and civil proceedings. By default, this makes America the largest known Bitcoin holder among nation-states.
Related: US stablecoin bill likely in ‘next 2 months’ — Trump’s crypto council head
Bitcoin’s special status
During the interview, Hines reiterated Bitcoin’s special status, suggesting that the White House crypto council was treating the strategic reserve and digital asset stockpile very differently.
“The reason we structured the [Strategic Bitcoin Reserve] the way we did is because Bitcoin is different. It’s unique; it’s a commodity, not a security,” said Hines, adding:
The White House rushed to defend Bitcoin’s special status shortly after President Trump announced plans for a digital asset stockpile, which included a smattering of large-cap altcoins. Even Commerce Secretary Howard Lutnick clarified that Bitcoin would be treated differently from the rest of the altcoins listed.
Trump, pictured alongside White House crypto czar David Sacks and Bo Hines, signs an executive order establishing the Bitcoin Strategic Reserve. Source: David Sacks
In addition to its Bitcoin acquisition targets, the Trump administration is making significant headway on cryptocurrency legislation through bipartisan cooperation.
According to Representative Ro Khanna, a California Democrat, Congress should be able to pass a stablecoin bill and crypto market structure bill this year.
Speaking at the Digital Asset Summit in New York, Ro Khanna (right) said there are between 70 and 80 Democrat lawmakers who now understand the importance of stablecoin legislation. Source: Cointelegraph
Magazine: Unstablecoins: Depegging, bank runs and other risks loom
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