NEWSLETTER
The Trump administration seems to be prepared to grow its bitcoin strategic reserve after the head of the White House Council suggested neutral forms in the budget to acquire the digital asset.
“There have been innumerable ideas” about how the government can acquire more bitcoin (btc), BO HIES, executive director of the President's Council of Advisors on Digital Assets, in an interview with the crypto in America podcast.
BO HIES said the crypto Council is open to creative ways to build the strategic reserve of government Bitcoins. Fountain: <a target="_blank" data-ct-non-breakable="null" href="https://x.com/EleanorTerrett/status/1903086384824389902″ rel=”null” target=”null” text=”null” title=”https://x.com/EleanorTerrett/status/1903086384824389902″>Eleanor Terrett
Perhaps the best way to do it would be to obtain profits in government gold certificates, which have a much less price than it is really worth it today.
“In fact, I will point to the Senator (Cynthia) the bitcoin Law of Lummis of 2025, in which he believes that we can identify the true real value of some of these gold certificates,” said Hines.
“If we really realize the profits in (these holdings), that would be a form of neutral budget to acquire more bitcoin,” he said.
As the St. Louis Federal Reserve Bank ExplainAll gold certificates held in fed banks “calculate at a legal price of $ 42.22 per ounce Troy.” In comparison, Spot Gold is currently valued at more than $ 3,000 per ounce.
The price of Gold Spot has recovered 40% during the past year. Fountain: Kitco
Senator Cynthia Lummis Proposal 2025 bitcoin Law List the “gold certificates of the Federal Reserve System” as a source of financing for Bitcoins purchases.
The bill requires that Fed banks “present all gold certificates in their custody to the Treasury Secretary” so that the secretary can issue new certificates “that reflect the fair price of gold market value held against said certificates by the Treasury.”
Hines said he is open to any idea about how to grow the reservation, whenever “a penny does not cost the taxpayer.” That is the Quid of the Neutral Budget Strategies to acquire bitcoin established in the executive order of March 6 of President Donald Trump.
“With all the actors of the working group between agencies that will meet in these meetings, I mean, we are going to listen to some tremendous ideas about how we can do it. I just don't want to lock ourselves yet for how that really looks because I want to be able to listen to everyone.”
The United States government currently has approximately 207,000 btc seized in criminal and civil procedures. By default, this makes the United States the largest owner of bitcoin known among the nation states.
Related: Stablecoin's bill of the USA
Special state of bitcoin
During the interview, Hines reiterated the Special State of bitcoin, which suggests that the White House crypto Council was dealing with the strategic reserve and the storage of digital assets in a very different way.
“The reason we structured the (bitcoin strategic reserve) as we did is because bitcoin is different. It is unique; it is a merchandise, not security,” said Hines, added: he added:
“David (Sacks) likes to say that he has the Immaculate Conception, which means that there is no issuer. It has an intrinsic stored value, and traditionally a value warehouse is also accepted.
The White House hastened to defend the special status of bitcoin shortly after President Trump announced plans for digital asset storage, which included a handful of high capitalization altcoins. Even the Secretary of Commerce Howard Lutnick clarified that bitcoin would be treated differently from the rest of the listed altcoins.
Trump, in the photo together with the white house crypto, Tsar David Sacks and Bo Hins, signs an executive order that establishes the bitcoin strategic reserve. Fountain: <a target="_blank" data-ct-non-breakable="null" href="https://x.com/davidsacks47/status/1897843050367406380″ rel=”null” target=”null” text=”null” title=”https://x.com/davidsacks47/status/1897843050367406380″>SACKS OF DAVID
In addition to its bitcoin acquisition objectives, the Trump administration is moving significantly in cryptocurrency legislation through bipartisan cooperation.
According to representative Rosta Khanna, a California Democrat, Congress should be able to approve a Structure Structure Law and crypto Market this year.
Speaking at the Digital Assets Summit in New York, Rue Khanna (right) said that there are between 70 and 80 Democratic legislators who now understand the importance of Stablecoin's legislation. Source: Cointegraph
Magazine: UNSTABLECINS: Depending on bank races and other risks
<template data-name="subscription_form" data-type="crypto_biz" label="Subscription Form: crypto Biz Newsletter”/>
