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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Bitcoin Ownership Still in Early Stages!

As of 2025, only 4% of the world’s population owns Bitcoin (BTC). The United States has the highest concentration of Bitcoin holders, with approximately 14% of individuals in the country owning BTC.

According to a research report published by River, a BTC financial services company, North America leads in Bitcoin adoption rates among both individual and institutional investors. In contrast, Africa has the lowest adoption rate, with just 1.6% of the population holding BTC.

In general, Bitcoin adoption tends to be higher in developed regions compared to developing ones. River’s data indicates BTC has reached only 3% of its maximum adoption potential. This signals that the digital asset is still in the early phases of global adoption.

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The company arrived at the 3% figure by calculating Bitcoin’s total addressable market, which includes governments, corporations, and institutions. Among this group, Bitcoin’s share is estimated at only 1%.

The report also emphasizes that institutional investment is still insufficient and individual ownership rates remain low.

Although Bitcoin has made significant progress since its early cypherpunk days and was recently recognized by the U.S. government as a strategic reserve asset, many barriers remain to mass adoption on a global scale.

Developing Countries Turn to Stablecoins

High price volatility disproportionately impacts residents in developing nations. As a result, many individuals prefer U.S. dollar-pegged stablecoins due to their low transaction fees and relative stability compared to other cryptocurrencies.

During the White House Crypto Summit held on March 7, U.S. Treasury Secretary Scott Bessent announced that stablecoins would be used to maintain U.S. dollar hegemony and protect its status as the global reserve currency.

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