Trump’s Crypto Director Says Gains from Reassessing Gold Certificates Can be a “Budget-Neutral” Way to Buy Bitcoin
March 21, 2025
President Trump’s crypto director confirms that reassessing gold certificates could be a budget-neutral way to buy Bitcoin.
Robert “Bo” Hines, Executive Director of the Presidential Council of Advisers on Digital Assets, discussed this during the inaugural episode of the Crypto In America podcast.
Recall that President Donald Trump recently signed an executive order establishing the Strategic Bitcoin Reserve (SBR) and a separate Digital Assets National Stockpile for altcoins.
The order officially placed the U.S. government’s existing Bitcoin holdings, currently 198,109 BTC worth about $17 billion, according to Arkham Intelligence, into the SBR.
However, the order also stated that the government will make any future Bitcoin acquisitions through “budget-neutral” means, a term that has left many wondering what strategies the administration might use to increase its holdings.
Selling Gold Certificates for Bitcoin
During the recent Crypto In America episode, journalist Eleanor Terrett asked Hines for a specific example of a budget-neutral approach. In response, he pointed to Senator Cynthia Lummis’s BITCOIN Act of 2025.
Hines explained that the government could re-evaluate the true value of certain gold certificates, currently worth about $172 per ounce. If the government adjusted this valuation and recognized its gains, it could use the additional funds to acquire more Bitcoin.
“We could realize the gains on that, and that would be a budget-neutral way to acquire more Bitcoin,” Hines noted. He added that they are exploring multiple strategies, with high-level officials like Treasury Secretary Scott Bessent and Commerce Secretary Howard Ludnick involved in the discussions.
The Idea of Selling Fort Knox Gold for Bitcoin
Terrett followed up by asking whether the government could sell some of the gold in Fort Knox to purchase Bitcoin. Hines responded by saying that if such a move remained budget-neutral and did not burden taxpayers, it could be considered.
He stressed that the administration is open to creative solutions and that an interagency working group is exploring various options. Recall that Hines previously mentioned that the government is looking to procure as much BTC as it can get.
“I don’t want to box us in yet to what that actually looks like because I want to be able to hear from everybody,” he stated in his latest remarks. Hines described the current administration as open to new ideas and innovative approaches to digital assets.
Expanding Beyond Bitcoin
The conversation moved to other crypto assets, with co-host Jacquelyn Melinek asking whether the government was considering other assets like Ethereum, XRP, Solana, and Cardano.
In response, Hines explained that Bitcoin received a special status because of its undisputed classification as a commodity rather than a security.
“Bitcoin is different. It’s unique. It has intrinsic stored value and is widely accepted,” he said, referring to its so-called “immaculate conception,” which means it has no central issuer.
This distinction led to the creation of two separate reserves: the Strategic Bitcoin Reserve (SBR) and the Digital Assets National Stockpile, which includes other cryptocurrencies.
Melinek also asked why they considered those particular five assets: Ethereum, XRP, Solana, Cardano, and Bitcoin. Hines clarified that they were selected based on market capitalization but added that the administration supports broader innovation in the crypto space.
“We still want to welcome and encourage innovation across many ecosystems,” he stated, acknowledging Bitcoin’s foundational role and also stressing the importance of technological growth in digital assets.
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