White House Eyes Gold Reserves to Buy 1 Million Bitcoin

The White House has revealed that the U.S. could potentially use its gold reserves to acquire more bitcoin, a move that could significantly impact the cryptocurrency market. According to Bo Hines, the White House executive director of the president’s council of advisers on digital assets, this strategy would be a budget-neutral way to increase the country's bitcoin holdings. Hines mentioned that the idea is to realize gains on the U.S. gold holdings and use those funds to buy bitcoin, a proposal that aligns with Senator Cynthia Lummis' Bitcoin Act of 2025. This act suggests that the U.S. could buy 1 million bitcoin, approximately 5% of the total bitcoin supply, over a period of five years by selling Federal Reserve gold certificates.

Hines emphasized that the U.S. is eager to accumulate as much bitcoin as possible, stating that it is high time for the president to start acquiring assets for the American people. This sentiment was echoed by Donald Trump, who, in a pre-recorded message during a bitcoin and crypto conference, promised to make the U.S. "the undisputed bitcoin superpower and the crypto capital of the world." Trump's comments have reassured the market of his commitment to crypto, highlighting the potential for economic growth and innovation in the sector.

Trump's executive order, which prevents the sale of bitcoin and crypto seized by the U.S., further underscores the administration's intent to build up the country's cryptocurrency holdings. The potential for the U.S. to use its gold reserves to buy bitcoin has sparked discussions about the future of the cryptocurrency market. Analysts and market watchers are closely monitoring the situation, as such a move could lead to a significant price increase for bitcoin. The recent stagnation in bitcoin prices has been attributed to macroeconomic factors, but many believe that this is a temporary correction rather than a long-term trend. The potential for the U.S. to enter the bitcoin market on a large scale could provide a much-needed boost to the cryptocurrency's value, making it an attractive investment for both individual and institutional investors.