Bo Hines, a former advisor to Trump, revealed that there is an ongoing global competition for Bitcoin (BTC) accumulation, and the US government is determined to win it.
This statement came just two weeks after he disclosed how he would fund Bitcoin reserves.
US Accelerates Bitcoin Reserve Plan, Bo Hines Reveals
In a recent interview, Hines made these remarks and explained how the US plans to leverage Bitcoin's scarcity. He believes that Bitcoin's decentralized origin and increasing adoption grant it longevity.
Based on these points, Bo Hines and the US government recognize the need for swift action to prevent other countries from getting ahead.
"I think there's a kind of space race when it comes to the accumulation of this asset," Hines said.
Bo Hines also described the US's commitment to becoming the "Bitcoin superpower of the world," stating that it aligns with Trump's vision for digital assets.
Referring to Bitcoin as "digital gold", the leader of the US Digital Asset Advisory Council said the government is accelerating its strategic Bitcoin reserve plan. The Trump administration is working with the US Treasury led by Scott Bessent to audit existing Bitcoin holdings.
According to reports, once the audit is complete, they will develop a "budget-neutral" method of Bitcoin acquisition.
Bo Hines also explained that this method will consist of multiple strategies to ensure the most practical and efficient approach.
"The goal is to start the accumulation process as quickly as possible, with the initial stages prioritizing speed and scalability," he added.
In retrospect, Bo Hines recently revealed that the Trump administration is considering using tariff revenues to fund national Bitcoin reserves. According to BeInCrypto, he also mentioned the need for the US to act quickly in the global competition for Bitcoin accumulation.
"SBR [Strategic Bitcoin Reserve] recognizes the value of Bitcoin and how it can be utilized for the American people. Bitcoin has a finite quantity, and I believe there will eventually be a competition for accumulation," Hines said.
Trump's First 100 Days
Meanwhile, Hines's remarks came as the US commemorates Trump's first 100 days in office. Hines stated that initial actions, including a comprehensive executive order signed in the first week, set a new digital asset agenda.
Along with this order, Trump established an inter-agency working group and simultaneously ended Operation Choke Point 2.0. He also terminated key lawsuits and delegated regulatory reversals, including banking laws, to make the path easier for crypto companies.
Before August, he also revealed plans for White House stablecoin and market structure bills for presidential approval. An upcoming report will detail the implementation of these structures.
Ahead of all these plans, the Senate is set to vote on the Genius Bill, which, if passed, could create a better stablecoin regulatory framework in the US.
Meanwhile, despite Hines's claims, Bitcoin price has only risen 0.76% in the last 24 hours, currently trading at $95,039.
