Bitcoin traders have been sitting on the sidelines in recent weeks as they wait for an update on U.S. president Donald Trump’s bitcoin plans (while they scramble to defend against a new, mystery crypto wallet threat).
The bitcoin price has flat-lined through March, stuck at around $85,000 per bitcoin, despite a huge, prescient bitcoin price prediction setting the market alight.
Now, as the Federal Reserve could be gearing up to open the “floodgates,” a senior White House official has revealed the U.S. could use its gold reserves to buy bitcoin.
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U.S. president Donald Trump has promised to make the country the world’s bitcoin … More
“If we actually realize the gains on [the U.S. gold holdings], that would be a budget-neutral way to acquire more bitcoin,” Bo Hines, White House executive director of the president’s council of advisers on digital assets, said in an interview with the Crypto in America podcast, adding there’s been “countless ideas” and the “best ideas” will be enacted by Trump.
“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.
Lummis reintroduced her Bitcoin Act this year, proposing the U.S. buy 1 million bitcoin, around 5% of the total bitcoin supply, over five years through the sale of Fed gold certificates.
Earlier this week, speaking during a bitcoin and crypto conference, Hines said the U.S. wants “as much [bitcoin] as we can get.”
“It’s high time that our president started accumulating assets for the American people, which is what president Trump is doing rather than taking it away,” Hines said, referring to Trump’s executive order that prevents the sale of bitcoin and crypto that U.S. has seized.
Trump also addressed the conference, promising in a pre-recorded message that he will make the U.S. “the undisputed bitcoin superpower and the crypto capital of the world … Pioneers like you will be able to improve our banking and payment system and promote greater privacy, safety, security and wealth for American consumers and businesses alike,” Trump said. “You will unleash an explosion of economic growth.”
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The bitcoin price has rocketed higher since Donald Trump’s election victory but has recently dropped … More
Trump’s comments, piling praise on bitcoin and crypto technology, companies and investors, have reassured the market that he remains committed to crypto.
“Bitcoin is rewriting the rules of wealth creation and economic freedom for all—a truth president Trump recognized at the Digital Assets Summit by vowing to make the U.S. a ‘bitcoin superpower,’” Cory Klippsten, the chief executive of bitcoin-only app Swan Bitcoin, said via email.
“Nation-state adoption is inevitable, but the real revolution lies in empowering individuals to shape a more fair and prosperous future.”
The recent bitcoin price stagnation has been blame on macro economic factors, though many crypto market watchers remain confident the down turn is a temporary correction rather than the beginning of a long-term trend.
“The bitcoin bearish price action is being driven by exogenous factors like trade wars, uncertainty about fiscal and monetary policies as well as geopolitics. The world is going through major structural changes, and we believe both bitcoin and gold will outperform other asset classes in the coming months,” Ed Hindi, chief investment officer at Switzerland-based hedge fund Tyr Capital, said in emailed comments.
“Zooming out bitcoin is still performing relatively well and will most probably be well supported around the $75,000 level. We still expect to see new record highs above $125,000 in 2025.
