Trump Administration Reveals if Altcoins Will Also Be Purchased for Strategic Reserve

The Trump administration remains committed to building a strategic Bitcoin reserve , despite its absence in a recent digital asset policy report. Robert “Bo” Hines, the executive director of the US President’s Council of Advisers on Digital Assets, reaffirmed the initiative during an appearance on the Crypto in America show. “We do believe in accumulation,” Hines stated when asked directly about the Strategic Bitcoin Reserve. He emphasized that such a reserve “has been established,” and also referenced a broader national digital assets stockpile. According to Hines, Bitcoin holds a unique position in the digital asset space. “Bitcoin is in a class of its own and everyone recognizes that,” he said. Infrastructure Taking Shape Behind the Scenes While critics noted the lack of mention of a Bitcoin reserve in the recently released White House report, Hines assured the public that efforts are still underway. He explained that establishing the necessary infrastructure requires careful planning and significant labor. “There are countless ways that we can accumulate,” he said. “I think that people will be very pleased with the direction that we are going, and we’ll start moving on that in short order.” The administration, he added, also wants to “give credence” to innovation across other blockchain ecosystems, though no specific altcoins or projects were named. White House Focused on Broader Regulatory Framework On Wednesday, the President’s Working Group on Digital Asset Markets unveiled its recommendations aimed at strengthening America’s leadership in digital financial technologies. However, the document made no reference to a strategic Bitcoin reserve. Instead, the report emphasized the need to develop a strong and transparent regulatory framework for the industry. “We understand the importance of the strategic Bitcoin reserve,” Hines insisted in response. “We’re enormous fans of Bitcoin and the Bitcoin community, we want to deliver for them as well, and I’m certain that we will.” US Government Eyes More Bitcoin Pressed on how much Bitcoin the federal government currently holds, Hines declined to disclose exact figures. “I can’t discuss that right now,” he said. “There are several reasons we’re not disclosing that right now, there might be a time when we do, but I will say we want as much as we can possibly get and we’re going to continue to work on that.” According to blockchain analytics firm Nansen, the US government is estimated to hold around 198,000 BTC, valued at approximately $2.35 billion. President Trump officially signed an executive order establishing the Strategic Bitcoin Reserve and the US Digital Asset Stockpile back in March.

Source: CryptoIntelligence