{"id":3563,"date":"2025-03-20T05:11:05","date_gmt":"2025-03-20T05:11:05","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-buying-race-us-wants-more-says-trumps-digital-assets-chief\/"},"modified":"2025-03-20T05:11:05","modified_gmt":"2025-03-20T05:11:05","slug":"bitcoin-buying-race-us-wants-more-says-trumps-digital-assets-chief","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-buying-race-us-wants-more-says-trumps-digital-assets-chief\/","title":{"rendered":"Bitcoin Buying Race? US Wants More, Says Trump\u2019s Digital Assets Chief"},"content":{"rendered":"

Can we expect a massive accumulation of Bitcoin during the presidency of US President Donald Trump? If we base it on the recent statements of Bo Hines, Trump\u2019s pick to head its Digital Assets section, the industry will soon see an aggressive investment strategy from the US government. <\/p>\n

Hines shared the department\u2019s plan during a speech at the digital assets summit. He mentioned they plan to invest \u201cas many Bitcoins\u201d as possible.\u00a0<\/p>\n

The interview and Hines’s subsequent thoughts came after Trump approved an executive order on March 6th to create a cryptocurrency stockpile for altcoins and Bitcoin. <\/p>\n

However, Trump\u2019s executive order<\/a> clarified that the US government will not procure new cryptos for its stockpile; instead, it plans to hold all digital assets confiscated by the government as part of its regulation.<\/p>\n

\n

We want \u201cas much as we can get.\u201d \u2013 @BoHines<\/a> on Bitcoinpic.twitter.com\/Sy86En8N1Q<\/a><\/p>\n

\u2014 Michael Saylor\"\u26a1\" (@saylor) March 18, 2025<\/a><\/p>\n<\/blockquote>\n

From An Election Promise To Reality: Trump\u2019s SBR<\/strong><\/h2>\n

Bitcoin, or a crypto stockpile, has been a hot topic in Washington and other crypto circles. During the elections, then-candidate Donald Trump teased the voters with his support for BTC and the blockchain and his plans to push for a crypto stockpile. <\/p>\n

At the Digital Summit in New York, Hines shared that the passage of the Strategic Bitcoin Reserve<\/a> reflects the president\u2019s commitment to his campaign promise.<\/p>\n

In his election cycle, the plans for a crypto reserve faced stiff challenges, specifically from the Securities and Exchange Commission (SEC) and its (former) chair, Gary Gensler. Trump positioned himself as pro-crypto and even promised to fire Gensler if he\u2019s elected. Now that Gensler is out of the picture, Trump is more aggressive in promoting his crypto plans.<\/p>\n

Planned SBR Highlights Crypto’s Uniqueness<\/strong><\/h2>\n

In the same speech, Hines explained that the planned Strategic Reserve respects and promotes the digital asset\u2019s unique features. For a start, Hines argued that the SBR is solely for Bitcoin and not for other altcoins like Cardano and Ripple\u2019s XRP.<\/a><\/p>\n

<\/p>\n

Also, Hines shared how the department sees Bitcoin. According to the executive director, they see Bitcoin as a commodity, not a security. He said that Bitcoin has an \u201cintrinsic store of value\u201d. Hines also said that in Trump\u2019s executive order, Bitcoin is compared to digital gold.<\/p>\n

Hines Calls On US Government To Invest More In BTC<\/strong><\/p>\n

Hines highlighted many of Bitcoin\u2019s unique features and claimed that the US government must hold and continue investing in Bitcoin. The current administration\u2019s policies on Bitcoin and crypto assets starkly contrast with the Biden presidency, which exited its Bitcoin holdings and lost $17 billion.<\/p>\n

Hines shared that the government\u2019s aim is to start building its Bitcoin holdings instead of liquidating them. He then revealed plans to work with the Secretary of Commerce and the Treasury to define budget-neutral approaches to buying more Bitcoins.<\/p>\n

Featured image from Coinpaper, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Can we expect a massive accumulation of Bitcoin during the presidency of US President Donald Trump? If we base it on the recent statements of Bo Hines, Trump\u2019s pick to head its Digital Assets section, the industry will soon see an aggressive investment strategy from the US government. Hines shared the department\u2019s plan during a…<\/p>\n","protected":false},"author":1,"featured_media":3564,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[65,254,459,462,1893],"class_list":["post-3563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-cryptocurrency","tag-digital-assets","tag-donald-trump","tag-us-government"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=3563"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/3564"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=3563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=3563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=3563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}