Trump’s Cryptocurrency Consultant Claims There’s a Competition to Establish a Bitcoin Reserve

Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, has indicated that the nation is engaged in a global competition to establish a U.S. Bitcoin reserve.

Hines also revealed that the government is taking rapid steps to create a Strategic Bitcoin reserve.

In a recent discussion, the White House crypto advisor noted that many countries worldwide are discreetly accumulating Bitcoin as a long-term asset, emphasizing America’s ambition to lead in this area.

He mentioned that the administration is working alongside the Treasury Department to assess current Bitcoin holdings and develop acquisition methods that do not impact the budget. Furthermore, he clarified that a single policy is not being adopted; instead, multiple strategies will be evaluated to find the most effective and efficient approach.

Hines expressed optimism in the U.S. Treasury and the Chamber of Commerce to devise highly innovative methods for gathering the primary cryptocurrency. The immediate aim is to initiate the process promptly, focusing on speed and scalability while implementing further measures in stages.

The crypto advisor has previously mentioned tariffs enacted by the president as a potential strategy for accumulating federal Bitcoin reserves.

When asked about the specific amount of Bitcoin the U.S. intends to acquire, Hines dismissed the question as trivial, suggesting that the government plans to hold a substantial amount of the digital asset.

Reflecting on the early days of his administration, the 29-year-old highlighted initial actions taken during President Trump’s tenure, including an executive order signed in the first week of his presidency, which established an interagency working group, effectively ended “Operation Chokepoint 2.0,” and facilitated significant regulatory changes.

This included the SEC discontinuing key lawsuits and banking regulators softening restrictions on cryptocurrency companies. The Trump administration also organized the inaugural White House Crypto Summit.

Hines stated that the U.S. aims to position itself as “the crypto capital of the world,” aligning with the president’s overarching goal of making America the premier destination for digital asset innovation.

The former Republican candidate was appointed in January 2025 to the newly created crypto advisory group, working alongside crypto leader David Sacks. While acknowledging the presence of other digital ecosystems, Hines maintained that the primary focus remains on Bitcoin because of its distinctive characteristics.

He referred to Bitcoin as “digital gold,” characterizing it as a commodity rather than a security. Trump’s advisor highlighted its origins and the idea of “Immaculate Conception,” a term previously introduced by David Sacks to illustrate its inherent value.