White House digital assets chief Bo Hines confirms strategic Bitcoin reserve plans

The White House is still on course to create a strategic Bitcoin reserve, according to Bo Hines, Executive Director of the President’s Council of Advisers on Digital Assets. Hines confirmed that the reserve is not only being considered but is already in place despite only being briefly mentioned in Wednesday’s federal crypto strategy document.

In an interview on Crypto in America recorded yesterday at the White House, Hines said the US government’s intention with Bitcoin is accumulation, before confirming that a strategic Bitcoin reserve already exists. 

“Well, we have it. It’s been established by the executive order in the SPR. We also have the strategic national digital assets stockpile,” he answered, “Bitcoin is in a class of its own and everyone recognizes that.”

The comments came hours after the President’s Working Group on Digital Asset Markets released its latest policy recommendations on the US leading the world in digital financial technology. 

Hines: We want as much Bitcoin as we can possibly get

Asked about the scale of the reserve and how much Bitcoin the government currently holds, Hines did not provide any specifics. “I can’t discuss that right now,” he said. “There are several reasons we’re not disclosing that right now, there might be a time when we do, but I will say we want as much as we can possibly get, and we’re going to continue to work on that.”

Blockchain analytics firm Nansen’s data shows the US government may hold as much as 198,000 BTC, valued at roughly $2.35 billion at current prices. The firm reportedly based its data on wallet tracking and seizures linked to federal operations, but the US government has not disclosed any official figure yet.

Hines did not elaborate on the mechanics of the reserve, nor how Bitcoin is being acquired or stored. However, he told Crypto in America that “there are countless ways we can accumulate.”

Bitcoin first, but not the only focus

Hines clarified that the administration wants to “give credence” to broader innovation across other blockchain ecosystems. He did not mention specific projects or digital assets by name but said that recognizing the contributions of the crypto industry is part of the administration’s approach.

“We’re enormous fans of Bitcoin and the Bitcoin community. We want to deliver for them as well, and I’m certain that we will. The US is the best place to do business. And it finally is for crypto as of today. And I think that, you know, the industry is going to be just overwhelmingly pleased with what they see come out of this today.”

Alongside the strategic Bitcoin reserve plans, the administration is seemingly planning to update financial regulations to align with decentralized technology.

When asked about potential reforms to the Bank Secrecy Act (BSA), Hines mentioned the recent actions of the Treasury Department’s sanctions policy on crypto mixer Tornado Cash.

Hines thanks President Trump for understanding crypto

When asked about President Donald Trump’s silence on crypto policy, Hines said the public shouldn’t mistake it for disinterest. 

“I just think that he’s excited about it,” Hines explained. “He understands it better than most. I think people would be shocked by how well he gets it and how much he recognizes how important this space is.”

Though the Oval Office has not been particularly vocal about crypto since he signed the executive order for a national stockpile, Hines believes President Trump’s familiarity with digital assets has informed the administration’s behind-the-scenes direction and made the policymaking process smoother. “That makes our lives a lot easier,” he concluded.