The cryptocurrency liaison for President Trump confirmed that, despite not being mentioned in the recently released cryptocurrency policy report, the government is still keen on establishing a strategic Bitcoin reserve.
The Executive Director of the President's Digital Asset Advisory Committee, Robert "Bo" Hines, stated in an interview with "Crypto in America" on Wednesday that when asked about the U.S. strategic Bitcoin (BTC) reserve, "We do believe in accumulation."
"We have it, it has been established […] we also have a strategic national digital asset reserve," he said, adding that Bitcoin "is in a class of its own, and everyone recognizes that."
He also mentioned that the government wants to "acknowledge" the work and developments happening in other ecosystems but did not mention any other digital assets or platforms.
Hines stated that building infrastructure takes time and manpower to ensure it is done correctly and achieves long-term success, and that there are "countless ways" to accumulate.
"I think people will be very pleased with our direction of development, and we will soon begin to take action in this regard," he said.
The President's Digital Asset Market Working Group released recommendations on "Strengthening America's Leadership in Digital Financial Technology" on Wednesday but did not mention the strategic Bitcoin reserve.
Hines indicated that the priorities and focus outlined in the report are to create a clear and robust regulatory framework.
When asked how much Bitcoin the federal government holds, Hines said, "I can't discuss that right now."
According to Nansen, the U.S. government holds approximately 198,000 BTC, valued at about $2.35 billion.
President Trump signed an executive order in March formally establishing a strategic Bitcoin reserve and a U.S. digital asset reserve.
Related: The White House Releases Long-Awaited Cryptocurrency Regulatory Recommendations Report
Original: “Bo Hines: Trump Will ‘Quickly’ Advance Bitcoin (BTC) Reserve Plans”
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