Trump's crypto advisor considers gold-to-bitcoin swap for U.S. reserves
Trump's crypto advisor considers gold-to-bitcoin swap for U.S. reserves
Bo Hines, head of the Presidential Council of Advisers for Digital Assets under President Donald Trump, has indicated openness to the idea of swapping U.S. gold reserves for Bitcoin — provided the exchange remains budget-neutral.
Key Takeaways
- Trump’s top crypto advisor is open to a gold-for-Bitcoin swap if it's budget-neutral.
- Senator Lummis reintroduced a bill to buy 1M BTC using Federal Reserve gold.
- The plan aims to create a national Bitcoin reserve without taxpayer cost.
- Trump’s administration supports creative strategies for digital assets.
In a recent interview with FOX Business, Hines responded to questions about the feasibility of selling gold stored in Fort Knox to acquire Bitcoin, emphasizing the administration’s flexibility in exploring innovative financial strategies.
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“If it’s budget neutral and doesn’t cost a taxpayer a dime, you’re kind of exchanging one for the other,” said Hines, noting that while no final decisions have been made, the White House is actively welcoming creative proposals. The remarks come as the Trump administration intensifies efforts to position the United States as a global leader in digital asset adoption.
The idea aligns closely with a renewed legislative push by Senator Cynthia Lummis, who recently reintroduced the Bitcoin Act (S.954). The bill proposes converting a portion of the Federal Reserve’s gold holdings into Bitcoin, creating a national strategic reserve. Initially introduced in 2023, the legislation failed to advance in Congress but has now regained momentum following Trump’s broader digital asset strategy.
BTC price. Source: СoinGecko.
Proposed reserve could reach 1 million BTC
Lummis’ bill outlines a plan to purchase up to 1 million Bitcoin — roughly 5% of the total circulating supply — using proceeds from the sale of gold certificates. She argues that the swap would be fiscally neutral and provide the U.S. with a long-term, digitally-native strategic asset. “We already have the financial assets in the form of gold certificates to convert to Bitcoin,” she said in a previous Bloomberg interview.
The Trump administration has already proposed utilizing seized Bitcoin for a national reserve. Now, with congressional support building, attention is turning to whether gold-backed acquisition could provide a scalable, politically viable path forward.
As discussions progress, observers will be watching to see whether the U.S. embraces Bitcoin not just as an investment, but as a cornerstone of its monetary strategy.
Meanwhile, Bitcoin mining stocks are down 20–40%, prompting Bernstein to lower its forecasts.
