Bitcoin Buying Race? US Wants More, Says Trump’s Digital Assets Chief

Can we expect a massive accumulation of Bitcoin during the presidency of US President Donald Trump? If we base it on the recent statements of Bo Hines, Trump’s pick to head its Digital Assets section, the industry will soon see an aggressive investment strategy from the US government.

Hines shared the department’s plan during a speech at the digital assets summit. He mentioned they plan to invest “as many Bitcoins” as possible. 

The interview and Hines’s subsequent thoughts came after Trump approved an executive order on March 6th to create a cryptocurrency stockpile for altcoins and Bitcoin.

However, Trump’s executive order clarified that the US government will not procure new cryptos for its stockpile; instead, it plans to hold all digital assets confiscated by the government as part of its regulation.

We want “as much as we can get.” – @BoHines on Bitcoinpic.twitter.com/Sy86En8N1Q

— Michael Saylor (@saylor) March 18, 2025

Bitcoin, or a crypto stockpile, has been a hot topic in Washington and other crypto circles. During the elections, then-candidate Donald Trump teased the voters with his support for BTC and the blockchain and his plans to push for a crypto stockpile.

At the Digital Summit in New York, Hines shared that the passage of the Strategic Bitcoin Reserve reflects the president’s commitment to his campaign promise.

In his election cycle, the plans for a crypto reserve faced stiff challenges, specifically from the Securities and Exchange Commission (SEC) and its (former) chair, Gary Gensler. Trump positioned himself as pro-crypto and even promised to fire Gensler if he’s elected. Now that Gensler is out of the picture, Trump is more aggressive in promoting his crypto plans.

In the same speech, Hines explained that the planned Strategic Reserve respects and promotes the digital asset’s unique features. For a start, Hines argued that the SBR is solely for Bitcoin and not for other altcoins like Cardano and Ripple’s XRP.

Also, Hines shared how the department sees Bitcoin. According to the executive director, they see Bitcoin as a commodity, not a security. He said that Bitcoin has an “intrinsic store of value”. Hines also said that in Trump’s executive order, Bitcoin is compared to digital gold.

Hines highlighted many of Bitcoin’s unique features and claimed that the US government must hold and continue investing in Bitcoin. The current administration’s policies on Bitcoin and crypto assets starkly contrast with the Biden presidency, which exited its Bitcoin holdings and lost $17 billion.

Hines shared that the government’s aim is to start building its Bitcoin holdings instead of liquidating them. He then revealed plans to work with the Secretary of Commerce and the Treasury to define budget-neutral approaches to buying more Bitcoins.

Featured image from Coinpaper, chart from TradingView