Gold Profits Could Be Key to Gov’t Bitcoin Play, Trump Crypto Chief Says
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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Now that the Strategic Bitcoin Reserve (SBR) is a formal government policy, its administrators are scrambling for ways to build and potentially sustain the plan. With an order to use budget-neutral strategies to manage the reserve, Bo Hines, US President Donald Trump’s Executive Director on Digital Assets, suggests using gold certificates. Hines shared many creative ideas on possible “budget-neutral” ways to buy more Bitcoins, and he sees gold certificates as one of the best options. He added that these certificates are priced less than actual gold, making it possible for the US government to realize gains when using them to buy Bitcoins. Government Continues To Explore ‘Budget-Neutral’ Ways To Fund SBR Trump’s announcement of the executive order on the crypto reserve was met with mixed reactions. Although many expected the government to approve the BTC reserve, many were disappointed with the initial plan not to buy new Bitcoin. Instead, its administrators are tasked with tapping digital assets already owned by the government or acquiring new ones through “budget-neutral approaches.” Executive Director of the @WhiteHouse crypto working group @BoHines talks $BTC, ways to buy more of it and the thinking behind including $ETH, $XRP, $ADA and $SOL in the separate stockpile. https://t.co/dBe1trxAAH pic.twitter.com/mz5Y5p4HgB — Eleanor Terrett (@EleanorTerrett) March 21, 2025 According to Hines, one creative and budget-neutral way to fund Bitcoin acquisition is to use gold certificates. As a guest on the Crypto in America podcast, the exec expects potential gains using gold certificates since they’re cheaper than actual gold. Hines continued by pointing to the Lummis Act, where Senator Cynthia Lummis suggested tapping the potential of the gold certificates. Pricing Of Gold Certificates Differs From Actual Gold Bullions According to the Federal Reserve Bank of St. Louis,…
Filed under: News - @ March 23, 2025 12:06 am