Robert “Bo” Hines, executive director of the President’s Council of Advisers on Digital Assets, discussed the potential sale of gold from Fort Knox to acquire Bitcoin, suggesting that such a move could be budget-neutral. In an interview on March 21, he referenced President Trump’s March 6 Executive Order to create a Strategic Bitcoin Reserve funded by forfeited BTC. Hines noted that Senator Cynthia Lummis’s bill would codify this order and allow the government to re-evaluate gold certificates, potentially using gains for Bitcoin purchases. He emphasized that any acquisitions must not cost taxpayers and that the government holds BTC and ETH assets due to their market capitalization.
Robert “Bo” Hines, the executive director of the President’s Council of Advisers on Digital Assets, indicated that selling a portion of the gold in Fort Knox to acquire Bitcoin could be feasible if it remains budget-neutral.
Hines made this statement during an interview with journalists Eleanor Terrett and Jacquelyn Melinek on March 21.
It’s worth noting that on March 6, President Trump signed an Executive Order to create a Strategic Bitcoin Reserve composed of BTC seized by federal agencies. The order also specified that any future Bitcoin acquisitions by the government would need to be conducted through “budget-neutral” methods.
During the discussion, Terrett inquired if Hines could provide an example of a budget-neutral method for purchasing Bitcoin. In his reply, Hines pointed to Senator Cynthia Lummis’s (R-WY) BITCOIN bill.
Once enacted, Senator Lummis’ bill would formalize Trump’s executive order. Hines explained that the bill outlines a process for the government to reassess the actual value of certain gold certificates. Should the government recognize gains from this reassessment, the extra funds could potentially be used to acquire more Bitcoin. “That would be a budget-neutral way to obtain more Bitcoin,” Hines stated.
Terrett then posed a hypothetical question regarding whether the government could sell some of the gold in Fort Knox to buy Bitcoin. “As long as it’s budget neutral and doesn’t inconvenience taxpayers,” Hines responded.
He also noted that the Trump administration is receptive to “new ideas” and “innovative approaches” concerning cryptocurrency.
Melinek asked Hines to explain the government’s selection of five specific assets: Bitcoin, Ethereum, XRP, Solana, and Cardano. Hines clarified that these assets were chosen based on their market capitalizations.
According to the on-chain analytics platform Arkham, as of March 21, the US government possesses 198,109 BTC valued at $16.6 billion and 60,850 ETH valued at $119 million.