“Bitcoin, Will Operate As Digital Gold For Thousands Of Years”…White House, Considers Expanding Strategic Reserves

Bo Hines, playing a key role in the Trump administration's cryptocurrency strategy (Source: WSJ)

Bo Hines, executive director of the White House Digital Assets Advisory Committee, evaluated Bitcoin as an asset that will function like gold for thousands of years and argued for the need to expand government-level strategic Bitcoin reserves.

Hines appeared on Anthony Pompliano's podcast 'Thinking Crypto' and said, “Bitcoin is digital gold” and “The United States should no longer delay in purchasing Bitcoin.” He stated that the U.S. government currently holds about 200,000 bitcoins and has plans to stockpile up to 1 million in the long term.

Hines explained this as an American version of the digital Fort Knox strategy and emphasized that it can be implemented in a budget-neutral way. In particular, he mentioned that the use of tariff revenue as a funding source is being considered.

He also emphasized that the government's official cryptocurrency holding policy could be a positive signal for public investors' trust and institutional adoption. Hines said, “Bitcoin started with an anti-establishment spirit but is now being accepted by large institutions like BlackRock and still functions as a value storage and remittance tool.”

He also left advice for general investors. Given Bitcoin's high volatility, it is important to approach it cautiously based on expert advice and to mention the importance of diversified investments. He also predicted that blockchain technology would not only improve inefficiencies in the financial system but also lead to structural changes like the Internet.

These remarks are interpreted as part of an extension of the move for the U.S. government to seriously embrace digital assets as strategic national assets, in line with President Trump's strategic cryptocurrency stockpile policy.