The post U.S. Races to Become Bitcoin Superpower – White House Crypto Advisor Bo Hines appeared first on Coinpedia Fintech News
As Bitcoin adoption grows around the world, the U.S. is speeding up its efforts to stay ahead. In a recent interview with Bitcoin Magazine, Bo Hines, the White House crypto advisor, revealed that the U.S. is preparing to build a national Bitcoin reserve. He also shared that other countries are doing the same, and the U.S. doesn’t want to fall behind.
Global Bitcoin Race Is On
Bo Hines compared the rush for Bitcoin to a modern-day space race. He said countries are quietly trying to collect Bitcoin as a long-term asset, and the U.S. wants to lead. To do that, the government is moving fast to set up what Hines called a “Strategic Bitcoin Reserve.”
This plan includes working with the U.S. Treasury to audit any current Bitcoin holdings and design a way to buy more, without adding to the national budget. Hines also said the goal is to act quickly and use smart methods that can grow over time.
This plan is also getting support from top tech leaders like Crypto Czar David Sacks. With their help and the Treasury’s support, Hines believes the U.S. can lead in using Bitcoin, mining it, and making clear rules for crypto.
Trump’s Bold Vision With Bitcoin
These efforts support Donald Trump’s larger plan for digital assets. He has promised to make the United States the “crypto capital of the world.”
Bo Hines explained that Trump wants the U.S. to become the first country to be known as “the Bitcoin superpower of the world.” He also called Bitcoin “digital gold,” something rare, valuable, and likely to grow stronger over time.
To support this vision, Hines pointed to steps already taken during Trump’s first 100 days back in office. One of the major moves was an executive order that ended “Operation Chokepoint 2.0,” a campaign that many believe unfairly targeted crypto companies.
Along with that, the SEC dropped some major lawsuits, and U.S. banking regulators began to ease their rules on crypto firms.
U.S. Leads in Bitcoin Holdings
Matthew Pines, Executive Director at the Bitcoin Policy Institute, shared an interesting fact about the U.S. position on Bitcoin. He said the United States likely owns around 35% to 40% of all the Bitcoin that has ever been mined.
In comparison, the country holds only about 8% to 10% of the world’s above-ground gold. This shows how strongly the U.S. is already positioned in the Bitcoin space and why building a national Bitcoin reserve makes even more sense.