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  • Bo Hines reveals Trump administration’s plans to ramp up bitcoin acquisition

    Bo Hines reveals Trump administration’s plans to ramp up bitcoin acquisition

    At the Blockworks’ Digital Asset Summit 2025 in New York on Tuesday, Bo Hines, Executive Director of the Presidential Council of Advisers for Digital Assets, unveiled a bold plan by the Trump administration to expand the U.S. government’s Bitcoin holdings through budget-neutral strategies, positioning the cryptocurrency as a strategic national asset similar to gold.

    This summit was the first-ever institutional conference for the crypto industry held in New York.

    The announcement underscored the administration’s commitment to positioning Bitcoin as a strategic national asset, like gold, while ensuring taxpayers bear no additional burden.

    Read also: Trump vows to make U.S. global cryptocurrency leader at first-ever White House Crypto Summit

    Recognising bitcoin as a strategic commodity

    Hines emphasised that the administration views bitcoin not as a security but as a commodity with essential value. “Bitcoin is scarce, valuable, and strategically important for the United States to hold as a long-term reserve asset,” he stated.

    Drawing parallels to gold, Hines noted Bitcoin’s unique characteristics, including its decentralised nature and immutability, which make it a critical component of the nation’s financial future.

    The administration’s plan includes creating the Strategic Bitcoin Reserve (SBR), an initiative first outlined in President Trump’s March 6 executive order. The SBR repurposes Bitcoin obtained through forfeitures and seizures, ensuring it remains a long-term national asset rather than being liquidated.

    Hines further revealed that the Treasury and Commerce Departments are actively collaborating to identify budget-neutral methods for acquiring more Bitcoin, with a focus on retaining and growing the government’s reserves without impacting taxpayers.

    As part of the strategy, Treasury Secretary Scott Bessent confirmed that the administration is working to halt the liquidation of seized Bitcoin. This move will ensure that bitcoin acquired through law enforcement actions is retained and added to the SBR rather than sold off.

    “We’re looking at ways to grow our holdings without burdening taxpayers,” Hines explained, reiterating the administration’s commitment to fiscal responsibility.

    Furthermore, U.S. Representative Byron Donalds has introduced a bill to formalise the Strategic Bitcoin Reserve into law, ensuring its continuity across future administrations. Also, Senator Cynthia Lummis and Congressman Nick Begich have proposed legislation calling for the United States to acquire 200,000 BTC annually over the next five years, with a long-term goal of accumulating up to 1 million BTC.

    Read also: Bitcoin drops below $91,000 amid market turmoil and legislative setbacks

    About Blockworks’ Digital Asset Summit 2025

    Blockworks’ Digital Asset Summit is the crypto industry’s premier institutional conference. It brings together institutional investors, thought leaders and industry professionals to shape the future of digital assets and blockchain technology.

    This year’s event featured insights from top executives, including Mohamed El-Erian, Chief Economic Advisor at Allianz; Binance CEO Richard Teng; Solana Labs Co-Founder and CEO Anatoly Yakovenko; Ripple CEO Brad Garlinghouse; and Blockchain Association CEO Kristin Smith among others.

  • $TRUMP Crypto coin’s meteoric rise: 300% gain in hours electrifies investors

    $TRUMP Crypto coin’s meteoric rise: 300% gain in hours electrifies investors

    In an unprecedented event in the cryptocurrency market, the newly launched $TRUMP meme coin has captured headlines with its meteoric rise. Within hours of its debut, $TRUMP surged by over 300 percent, propelling its market capitalisation to an astonishing $8 billion.

    This phenomenon highlights the volatile nature of meme coins and underscores the significant influence of high-profile figures in the crypto space.

    Read also: Bitcoin jumps to $89,000 following Trump’s re-election triumph

    $TRUMP coin launch

    Launched on the Solana blockchain on September 21 2024, $TRUMP is not just another meme coin but carries the weight of U.S. President-elect Donald Trump‘s political legacy. The token was introduced with a total supply capped at 1 billion coins, with an initial release of 200 million. Trump himself announced the coin on his social media platforms, Truth Social and X inviting his followers to join his “very special Trump Community” by acquiring tokens through gettrumpmemes.com.

    Market reaction to the $TRUMP Crypto coin launch

    The market’s response to $TRUMP was nothing short of spectacular. Within three hours of its release, the coin’s value shot up from an initial price of $0.18 to $7.1, a surge that left many in the crypto community astounded. This rapid increase was driven by a combination of factors, including Trump’s endorsement, the novelty of the coin, and the speculative frenzy surrounding meme tokens. Trading volumes approached $1 billion, reflecting the immense interest and speculative buying from retail and institutional investors.

    One notable transaction reportedly involved a trader who converted an investment of $883 into $310,000 in just 21 minutes, showcasing the potential for high returns amid such volatility.

    Scepticism surrounding the legitimacy of the $TRUMP coin

    Despite the enthusiasm, the launch wasn’t without its controversies. Sceptics questioned the coin’s legitimacy, pointing to the concentrated ownership structure where 80 percent of the tokens are held by entities closely associated with the Trump Organisation. This concentration raises concerns about the coin’s decentralisation and potential for manipulation. Moreover, the rapid price surge has sparked debates on social media about the sustainability of such gains, with many fearing a bubble that might burst as quickly as it inflated.

    Trump’s strategic play for Crypto support

    The launch of the $TRUMP coin comes as Donald Trump has increasingly aligned himself with the cryptocurrency community. Some have seen his self-proclaimed status as the “crypto president”, and his campaign promises to foster a pro-crypto environment if he is elected for another term as a strategic move to garner support from the growing number of crypto enthusiasts. This could lead to more favourable regulatory environments for digital assets in the U.S., although such promises are viewed with a mix of hope and scepticism by those in the crypto industry.

    Read also: South Africa makes history by accepting cryptocurrency for property purchases

    The future of $TRUMP

    As with any speculative asset, the future of $TRUMP remains uncertain. While its initial performance has been stellar, the sustainability of its value will depend on ongoing interest, regulatory developments, and broader market trends.

    The coin’s ability to maintain or grow its community of holders and utility beyond a meme will be critical. Yet, even if the coin sees a downturn, its launch has undoubtedly marked a significant moment in the crypto world, demonstrating how political figures can influence digital asset markets.

    The $TRUMP coin’s explosive entry into the cryptocurrency market is a testament to the power of celebrity and political influence in shaping market dynamics. It also reminds us of the speculative nature of meme coins and the potential for rapid gains or losses.

    As the dust settles, all eyes will be on how this coin navigates the complex waters of crypto-economics, regulatory scrutiny, and public perception in the coming months.