The US government is open to considering unconventional financial strategies as cryptocurrency gains further legitimacy at the highest levels of power. Bo Hines, head of Trump’s Presidential Council of Advisers for Digital Assets, recently suggested that the administration is willing to explore the idea of swapping some of the nation’s gold reserves at Fort Knox for Bitcoin — provided it remains budget-neutral.
Hines Open to Exploring New Avenues
In a FOX Business interview, Hines emphasized the openness of the current administration to fresh ideas.
“If it’s budget neutral and doesn’t cost a taxpayer a dime, you’re kind of exchanging one for the other,” he said, when asked about the possibility of trading US gold reserves for Bitcoin.
While nothing is set in stone, Hines stressed that the working group is in an exploratory phase. Rather than pushing a fixed plan, the Council aims to hear diverse perspectives and consider a wide range of “creative ideas.”
Expanding the Crypto Ecosystem
Hines also addressed the scope of crypto assets being considered by the administration. While President Trump previously mentioned Ethereum, XRP, Solana, and Cardano in his national crypto reserve announcement, Hines made it clear that the administration is not limiting itself to these four.
“These were highlighted because of their market cap dominance,” he said, echoing earlier remarks by entrepreneur David Sacks. But innovation across various blockchains remains a priority.
Lummis Pushes for Bitcoin Reserve Strategy
Senator Cynthia Lummis has long been an advocate for integrating Bitcoin into the national asset portfolio. Her earlier proposal, the BITCOIN Act, called for acquiring 1 million Bitcoin — around 5% of the current supply — by selling off Federal Reserve gold certificates.
“We already have the financial assets in the form of gold certificates to convert to Bitcoin,” Lummis said in a Bloomberg interview last year. “So the effect on the US balance sheet is pretty neutral.”
Although her 2023–24 proposal stalled in Congress, Lummis recently reintroduced a new version of the bill (S.954) at a crypto policy conference. The goal remains the same: transform a portion of America’s traditional gold holdings into a modern Bitcoin reserve.
An Unconventional but Growing Movement
While far from mainstream, the concept of a national Bitcoin reserve is slowly gaining traction among some US lawmakers and advisers. The idea of selling off legacy assets like gold to invest in digital currencies reflects a broader push for modernization in financial policy.
The debate over whether Bitcoin can or should become part of America’s official reserves is far from settled, but one thing is clear — it’s no longer being dismissed outright.
