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

Christian Encila

3 months ago

3 mins read

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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

From An Election Promise To Reality: Trump’s SBR

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.

Planned SBR Highlights Crypto’s Uniqueness

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.

BTC is now trading at $84,272. Chart: TradingView

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 Calls On US Government To Invest More In BTC

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

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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