U.S. plans national Bitcoin reserve to stay ahead in global crypto accumulation race.

Bo Hines says Bitcoin's scarcity makes it essential for America's future financial strength.

The U.S. is speeding up its efforts to stay ahead in global crypto adoption, with a national Bitcoin reserve now in the works, according to a recent interview with Bo Hines, the White House crypto advisor, with Bitcoin Magazine.

Hines revealed that the U.S. is preparing to build a national Bitcoin reserve and other countries are doing the same. With several nations now setting up plans for a Bitcoin fund, the U.S. doesn’t want to be left behind.

“They're realizing the scarcity aspect of Bitcoin is critical for their future financial strength, especially as the U.S. dollar loses strength due to excessive printing during the pandemic,” said the president’s crypto advisor.

Bo compared the rush for Bitcoin to a modern-day space race, where everyone is trying to be the first to land on the moon. He said countries are calmly and quietly trying to collect Bitcoin as a long-term asset, and the U.S. wants to be at the forefront of this effort.

To achieve this, the government is quickly setting up what Bo called a “Strategic Bitcoin Reserve.” This plan includes working closely with the U.S. Treasury to fully audit any current Bitcoin holdings and determine the best methods for buying more, without adding to the national budget.

The aim is to act quickly and use smart economic strategies that can be scaled up over time. In addition, the president’s crypto advisor is working closely with top tech leaders like Crypto Czar David Sacks to ensure efficient execution of this plan.

With the Treasury’s cooperation and technical assistance, Bo believes the U.S. can become the leading nation in using Bitcoin, mining it and setting clear regulations for the crypto sector.

These efforts are part of Donald Trump’s broader initiative for digital assets, where he has vowed to make the United States the “crypto capital of the world.”

During an interview with Bitcoin Magazine at the Blockchain Futurists Conference, Bo explained that Trump’s vision is to make the U.S. the first country to be recognized as “the Bitcoin superpower of the world.”

He also described Bitcoin as “digital gold,” highlighting its scarcity, value and potential for increasing strength over time, much like the precious metal.

To achieve this vision, Bo pointed to steps already taken during Trump’s first 100 days back in office. One of the major moves was an executive order that effectively ended “Operation Chokepoint 2.0.”

This was a U.S. banking campaign that many believed was designed to cut off crypto firms’ access to financial services and ultimately shut them down.

Along with this, the SEC dropped some major lawsuits and U.S. banking regulators began to ease their rules on crypto firms.

Earlier this year, the U.S. reportedly had the largest share of Bitcoin mined, according to Matthew Pines, Executive Director at the Bitcoin Policy Institute.

Pines stated that the United States likely owns around 35% to 40% of all the Bitcoin that has ever been mined. In comparison, the country holds only about 8% to 10% of the world’s above-ground gold.