The Trump administration is considering a groundbreaking approach to expanding the country’s Bitcoin holdings without increasing the federal deficit. Bo Hines, the top White House crypto official, revealed that they are exploring the revaluation of decades-old gold certificates as a means to acquire additional Bitcoin for the Strategic Bitcoin Reserve.
In a recent interview on the Crypto in America podcast, Hines discussed the administration’s interest in budget-neutral methods of accumulating more Bitcoin. President Donald Trump’s executive order authorizing the creation of a national Bitcoin reserve signals a significant shift in US digital asset policy.
Currently, the US government holds approximately 207,000 BTC, making it the largest known Bitcoin holder among nations. Hines mentioned that the administration is actively considering various creative strategies to increase their Bitcoin holdings, emphasizing the importance of finding budget-neutral solutions.
One idea gaining traction involves revaluing gold-backed certificates that are currently priced well below their market value. Under current law, these certificates are valued at a fixed statutory price of $42.22 per ounce, a figure that has remained unchanged since the early 1970s. With gold now trading above $3,000 an ounce, the potential difference between book value and market value could provide a substantial windfall that could be redirected towards acquiring more Bitcoin.
This concept aligns with provisions outlined in the BITCOIN Act of 2025, introduced by Senator Cynthia Lummis. The legislation proposes returning outstanding gold certificates to the Treasury for reissuance at a price reflecting the actual market value of the gold they represent. This revaluation could generate billions in unrealized gains that could bolster the federal Bitcoin reserve.
While no final decisions have been made, inter-agency discussions are ongoing, with lawmakers from both the Senate and the House working on bipartisan efforts to push the legislation forward.
Hines emphasized that Bitcoin is viewed as a unique asset class with distinct characteristics that make it an attractive long-term store of value. Its decentralized nature and fixed supply set it apart from other digital currencies, making it a valuable addition to the country’s reserves.
The administration’s digital asset strategy includes separate tracks for Bitcoin and a broader “stockpile” of altcoins, each to be managed under different legal and regulatory frameworks. Commerce Secretary Howard Lutnick has emphasized that Bitcoin will be treated separately from other tokens under the executive order.
As the administration explores innovative ways to increase the country’s Bitcoin holdings, the revaluation of gold certificates presents a promising opportunity to strengthen the Strategic Bitcoin Reserve and secure the nation’s position in the digital asset landscape.