US has ‘countless’ ways to bolster Bitcoin reserve: Bo Hines
The US is actively seeking ways to expand its Strategic Bitcoin Reserve without utilizing taxpayer funds, according to Bo Hines, executive director of the White House's crypto council. In a recent interview, Hines outlined creative funding options, such as leveraging tariff revenues and revaluing gold certificates held by the Treasury, currently valued at $43 per ounce, to the market rate of $3,200 per ounce. This revaluation could generate surplus funds for Bitcoin purchases without the need to sell gold. The initial Bitcoin Reserve will consist of assets forfeited in criminal cases, while additional strategies will ensure a budget-neutral approach to acquiring more Bitcoin. Furthermore, Hines indicated that the Trump administration is working on a digital asset framework aimed at fostering crypto innovation in the US, positioning it as the 'crypto capital of the world.' Hines emphasized the urgency and speed of their initiatives, although the interview did not address potential conflicts of interests regarding Trump's crypto ventures, which have drawn criticism from some lawmakers.
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