Tariffs May Help Fund US Bitcoin Reserve Buildup Says White House Advisor Bo Hines
White House digital assets director Bo Hines has suggested that tariffs might provide funding for the U.S. Strategic Bitcoin Reserve, aiming to acquire Bitcoin without using taxpayer money. The idea comes amid sweeping tariffs implemented by the Trump administration, which could potentially generate revenue to bolster the country's Bitcoin holdings. Hines indicated that the administration is exploring various 'budget-neutral' approaches for Bitcoin acquisition, including the possible use of tariffs. Additionally, he mentioned a recent bill from New Hampshire proposing a state Bitcoin reserve, reflecting growing legislative interest in cryptocurrency. Following an executive order by Trump establishing the Strategic Bitcoin Reserve, federal agencies were required to disclose their Bitcoin holdings to the Treasury Secretary by a set deadline. As part of the government's strategy, Hines noted that the Treasury could revalue gold reserves, facilitating further Bitcoin acquisition. The administration's ambition is for the U.S. to dominate the global Bitcoin landscape, and Hines is optimistic about reaching effective solutions for funding.
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