White House Official: U.S. Wants to Acquire as Much Bitcoin as Possible

A White House official told crypto industry leaders this week that the Trump administration aims to acquire as much Bitcoin as possible.

During a closed-door meeting on Tuesday hosted by the Bitcoin Policy Institute, Bo Hines, Executive Director of the Presidential Working Group on Digital Assets, confirmed that the White House is intent on purchasing as much BTC as it can. When asked how much Bitcoin the government plans to acquire, Hines joked that it was like asking someone how many dollars they want.

White House officials confirmed Hines’ statement, emphasizing that the Bitcoin acquisitions would be “budget-neutral” and would not impose additional costs on taxpayers.

The meeting followed the “Bitcoin for America” policy summit and included prominent Bitcoin figures such as Michael Saylor, co-founder of Strategy, Fred Thiel, CEO of Marathon Digital, Nathan McCauley, CEO of Anchorage Digital, and David Bailey, CEO of Bitcoin Magazine. U.S. Senators Cynthia Lummis (R-WY), Bill Hagerty (R-TN), and Bernie Moreno (R-OH) also attended the event.

White House Supports Legislation for Strategic Bitcoin Reserve

During the meeting, a participant asked Bo Hines if the White House supports the Bitcoin Act, a bill reintroduced by Senator Lummis, which requires the U.S. government to acquire one million BTC. The bill also aims to legalize the Strategic Bitcoin Reserve established by President Trump’s recent executive order.

In response, Hines turned to Lummis, seated next to him, and stated that the White House plans to support legislation to make the Strategic Bitcoin Reserve a law and will push for it to pass Congress. However, White House officials clarified that Hines did not explicitly endorse any specific piece of legislation during the meeting.

U.S. Bitcoin Reserve and Budget Debate Over Lummis’ Bill

The U.S. government is currently estimated to hold around 200,000 BTC, acquired through civil and criminal forfeitures. The White House has expressed support for acquiring more Bitcoin to build a strategic reserve, as long as the purchases remain “budget-neutral.”

Senator Lummis’ Bitcoin Act proposes to purchase $80 billion worth of BTC, and the financing is planned to come from the Federal Reserve’s gold certificates being revalued at current market prices. However, whether this method truly remains budget-neutral is a matter of debate.

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