Bo Hines, Trump’s appointee to head the US government’s Digital Assets section, recently announced a plan to aggressively invest in Bitcoin. This follows President Trump’s March 6th executive order establishing a cryptocurrency reserve.
From Campaign Promise to Reality
During his election campaign, Trump promised to create a Bitcoin reserve, a plan that faced significant opposition from the SEC under Gary Gensler. With Gensler gone, Trump is now moving forward with his promise, and the Strategic Bitcoin Reserve (SBR) is becoming a reality.
Bitcoin: A Unique Asset
Hines emphasized Bitcoin’s unique characteristics, highlighting that the SBR will focus solely on Bitcoin, not other cryptocurrencies. He views Bitcoin as a commodity, not a security, and described it as a “store of value,” even comparing it to digital gold.
The US Government’s Bitcoin Strategy
Hines stressed the importance of the US government holding and continuing to invest in Bitcoin. He contrasted this approach with the Biden administration’s decision to liquidate its Bitcoin holdings, resulting in a reported $17 billion loss. Hines plans to work with the Secretaries of Commerce and Treasury to find ways to acquire more Bitcoin without increasing the budget. The goal? To accumulate “as much Bitcoin as possible.”
