Bitcoin space race is on and US wants to win it: Bo Hines

Key Takeaways

The US aims to become the Bitcoin superpower with a strategic approach outlined by the administration.
A Strategic Bitcoin Reserve initiative highlights the US view of Bitcoin as digital gold with intrinsic stored value.

White House crypto advisor Bo Hines said a global space race for Bitcoin accumulation is underway, and the US is determined to lead it.

“I think there is definitely a sort of space race as it pertains to the accumulation of this asset,” said Hines in a recent interview with Bitcoin Magazine. The statement addressed whether the Trump administration views Bitcoin’s scarcity as a reason for swift action to avoid being front-run by other nations.

“We recognize the other ecosystems that exist. And that’s why we have the Digital Assets National Stockpile as well,” he added. “We want to encourage innovation in other spaces in the industry.”

According to Hines, Bitcoin’s scarcity sets it apart from other crypto assets. He pointed to its early, decentralized origins and growing market acceptance as signs of its staying power.

Hines also noted that the US is positioning itself to become “the Bitcoin superpower of the world,” in line with the president’s vision for digital assets.

Calling Bitcoin “digital gold,” Hines said the government is moving swiftly to build its Strategic Bitcoin Reserve. The administration is working with the Treasury Department to audit existing Bitcoin holdings and develop “budget-neutral” acquisition methods.

Trump’s crypto advisor clarified that the government isn’t pursuing a single policy approach, but rather exploring multiple strategies to determine the most practical and efficient path forward.

The goal, he said, is to begin the accumulation process as quickly as possible, with initial steps prioritized for speed and scalability, and additional measures to follow.

“What we’re looking for here is what is the most practical, what can we move on in the quickest fashion, and how can we start this accumulation process really in the most expeditious manner possible,” he stated. “So those ideas will likely be prioritized, and we can add to those as we continue to move forward.”

Reflecting on the administration’s first 100 days, Hines said their early actions, including a sweeping executive order signed in the first week, set the tone for a new digital asset agenda.

The order established an interagency working group, ended alleged “Operation Chokepoint 2.0,” and led to landmark regulatory reversals, such as the SEC dropping key lawsuits and banking regulators easing restrictions on crypto firms.

“We want to make the United States the crypto capital of the world,” said Hines. “We want to welcome in the golden age of digital assets.”

The White House aims to have stablecoin and market structure legislation on the president’s desk before the August recess, with implementation plans detailed in an upcoming 180-day report.

The Senate is expected to vote on the GENIUS Act, a bill that aims to establish a regulatory framework for stablecoins, before Memorial Day, Senate Majority Leader John Thune reportedly announced during the GOP senators’ weekly conference lunch.

The proposed legislation has been approved by the Senate Banking Committee, and if passed by the Senate, it will represent a landmark milestone in US crypto regulation.