President Trumps Crypto Advisor Reveals Ways To Bolster Bitcoin Reserves
The head of the Presidential Crypto Advisory Committee, Bo Hines, highlighted ways the United States could improve its Bitcoin (BTC) reserves. This comes on the heels of positive developments around digital asset regulation in the country. President Trumps crypto team is doubling efforts to achieve his campaign promises for the market.
Bo Hines Turns To Tariffs
In a new interview with Anthony Pompliano of Professional Capital Management, Hines stated that Trumps advisory team is seeking creative ways to bolster the countrys Bitcoin reserves. After the Presidents executive order to establish the Strategic Bitcoin Reserve, Federal agencies were required to disclose all BTC holdings, along with a 180-day window to provide recommendations.
The White House advisor noted that they would produce a comprehensive work, but there are countless ways to acquire more of the top crypto.
Were looking at many creative ways, whether it be from tariffs, theres literally countless ways in which you can do this. Everything is on the table, and like weve said, we want as much as we can get, so were going to make sure that no stone is unturned Were moving at tech speed, its like were a startup in this building. Well continue moving this along quite quickly.
The country is currently exploring ways to increase tariff revenue and add it to its reserves. Recently, the President announced sweeping, country-based tariffs. Although special tariffs were reversed after it jolted the markets, the White House increased figures for China and maintained the 10% increase across the board.
Aside from tariffs, the administration plans to revalue the countrys gold certificates. The gold will be valued at the market price of $3,200 per ounce rather than $43 per ounce. This would create a paper surplus to fund new asset purchases. A notable effect is that the surplus could be freed without Congressional appropriations.
US To Maintain Global Leadership
Hines pointed out that the United States needs to buy more Bitcoin to maintain global leadership or risk falling behind other nations. This backs up President Trumps plan to make the country the global capital for Bitcoin and Artificial Intelligence (AI).
So far, the Trump administration has taken several steps, including establishing a crypto task force to attract investors. The President also appointed pro-crypto experts to key positions, a sharp contrast from the previous government. At the moment, the US government holds 192,012 BTC.
Read more: https://zycrypto.com/president-trumps-crypto-advisor-reveals-ways-to-bolster-bitcoin-reserves/
Text source: ZyCrypto
