Trump Admin Wants to Acquire as Much Bitcoin as Possible: White House

Here is the rewritten content in HTML format with proper headings and subheadings:

White House Seeks to Acquire as Much Bitcoin as Possible

A White House official told a room of crypto industry leaders that the Trump administration wants to acquire as much Bitcoin as possible.

Private Roundtable Discussion

At a closed-door roundtable hosted by the Bitcoin Policy Institute, Bo Hines, executive director of the Presidential Working Group on Digital Assets, told participants that the White House is intent on acquiring as much Bitcoin as it can, according to multiple attendees.

How Much Bitcoin?

When asked by someone in the room exactly how much Bitcoin the U.S. government might ultimately acquire, Hines joked that the question was akin to asking someone how many dollars they’d want, one roundtable attendee told Decrypt.

White House Official Confirmation

A White House official confirmed to Decrypt that Hines indeed made the statement about acquiring as much Bitcoin as possible, but added the caveat that any such acquisitions would be made “in a budget-neutral way that doesn’t cost the taxpayers a dime.”

Private Roundtable Attendees

The private roundtable, which followed a public “Bitcoin for America” policy summit, hosted Bitcoin heavyweights, including Strategy co-founder Michael Saylor, Marathon Digital CEO Fred Thiel, Anchorage Digital CEO Nathan McCauley, and Bitcoin Magazine CEO David Bailey. It also featured three U.S. senators: Cynthia Lummis (R-WY), Bill Hagerty (R-TN), and Bernie Moreno (R-OH).

Bitcoin Act

At one point during the roundtable, a participant asked Bo Hines whether the White House supports the Bitcoin Act—a piece of legislation reintroduced in the Senate by Lummis on Tuesday that would require the U.S. government to buy up to one million BTC, worth roughly $80 billion, and would enshrine into law the Strategic Bitcoin Reserve established by President Donald Trump’s recent executive order.

White House Support

After receiving the question, according to one roundtable attendee, Hines then turned to Lummis, whom he was sat next to, and said the White House plans to support legislation that puts a Strategic Bitcoin Reserve into law and will apply pressure to make sure it passes Congress.

No Endorsement of Legislation

A White House official emphasized to Decrypt that Hines did not, however, endorse any specific piece of legislation during the event.

Acknowledging Current Holdings

It is currently estimated that the U.S. government holds nearly 200,000 BTC, acquired via civil and criminal forfeitures. Senior White House officials have pushed the line in recent days that they support the government purchasing additional Bitcoin to buttress a strategic reserve, so long as those acquisitions are “budget-neutral.”

Debating Budget Neutrality

It is debatable whether Lummis’ Bitcoin Act can be considered budget-neutral. The bill calls for the U.S. to purchase some $80 billion worth of BTC at current prices—but plans to do so principally by obligating the Federal Reserve to hand over revenues that would theoretically be generated if the central bank were to have its gold certificates reevaluated at market prices. The certificates were last priced in 1971, when the U.S. went off the gold standard. Gold has since increased by over 6,800% in value.

Conclusion

The White House’s goal to acquire as much Bitcoin as possible reflects the growing importance of digital assets in the global financial landscape. As the U.S. government continues to explore ways to harness the potential of cryptocurrencies, it is crucial to ensure that any acquisitions are made in a budget-neutral way that does not cost the taxpayers a dime.

FAQs

• What is the White House’s plan for acquiring Bitcoin?
  The White House plans to acquire as much Bitcoin as possible, according to a White House official.
• How much Bitcoin does the U.S. government currently hold?
  The U.S. government currently holds approximately 200,000 BTC, acquired via civil and criminal forfeitures.
• What is the Lummis Bitcoin Act?
  The Lummis Bitcoin Act is a piece of legislation reintroduced in the Senate that would require the U.S. government to buy up to one million BTC, worth roughly $80 billion, and would enshrine into law the Strategic Bitcoin Reserve established by President Donald Trump’s recent executive order.
• Is the Lummis Bitcoin Act budget-neutral?
  It is debatable whether the Lummis Bitcoin Act can be considered budget-neutral, as the bill calls for the U.S. to purchase some $80 billion worth of BTC at current prices but plans to do so principally by obligating the Federal Reserve to hand over revenues that would theoretically be generated if the central bank were to have its gold certificates reevaluated at market prices.