The Trump administration appears poised to grow its Strategic Bitcoin Reserve after the White House’s crypto council head suggested budget-neutral ways for acquiring the digital asset.
“There’s been countless ideas” about how the government can acquire more Bitcoin 
BTCUSD, Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, said in an interview with the Crypto in America podcast.
Perhaps the best way of doing so would be to realize the gains on the government’s gold certificates, which are priced far less than bullion is actually worth today.
“I’ll actually point you to Senator [Cynthia] Lummis’ Bitcoin Act of 2025, in which she believes that we can identify the real true value of some of these gold certificates,” Hines said.
“If we actually realize the gains on [these holdings], that would be a budget-neutral way to acquire more Bitcoin,” he said.
As the Federal Reserve Bank of St. Louis explains, all gold certificates held at Fed banks are “computed at a statutory price of $42.22 per troy ounce.” By comparison, spot gold is currently valued at more than $3,000 an ounce.
Senator Cynthia Lummis’ proposed BITCOIN Act of 2025 lists “Federal Reserve System gold certificates” as one source of funding for Bitcoin purchases.
The bill requires that Fed banks “tender all outstanding gold certificates in their custody to the Treasury Secretary” so that the secretary can issue new certificates “that reflect the fair market value price of the gold held against such certificates by the Treasury.”
Hines said he’s open to any ideas about how to grow the reserve, so long as it “doesn’t cost the taxpayer a dime.” That’s the crux of budget-neutral strategies for acquiring Bitcoin laid out in President Donald Trump’s March 6 executive order.
“With all the inter-agency working group actors that will convene in these meetings, I mean, we’re going to hear some tremendous ideas about how we can do it. I just don’t want to box us in yet to what that actually looks like because I want to be able to hear from everybody.”
The US government currently holds roughly 207,000 BTC seized in criminal and civil proceedings. By default, this makes America the largest known Bitcoin holder among nation-states.
Bitcoin’s special status
During the interview, Hines reiterated Bitcoin’s special status, suggesting that the White House crypto council was treating the strategic reserve and digital asset stockpile very differently.
“The reason we structured the [Strategic Bitcoin Reserve] the way we did is because Bitcoin is different. It’s unique; it’s a commodity, not a security,” said Hines, adding:
“David [Sacks] likes to say it has the immaculate conception, meaning there’s no issuer. It has intrinsic stored value, and it’s traditionally accepted store of value as well. We wanted to make that distinction [between stockpile and reserve].”
The White House rushed to defend Bitcoin’s special status shortly after President Trump announced plans for a digital asset stockpile, which included a smattering of large-cap altcoins. Even Commerce Secretary Howard Lutnick clarified that Bitcoin would be treated differently from the rest of the altcoins listed.
In addition to its Bitcoin acquisition targets, the Trump administration is making significant headway on cryptocurrency legislation through bipartisan cooperation.
According to Representative Ro Khanna, a California Democrat, Congress should be able to pass a stablecoin bill and crypto market structure bill this year.
