US Government Explores Selling Gold for Bitcoin Reserves

Gold for Bitcoin? A New Strategy Emerge

The US government is exploring unconventional financial strategies as cryptocurrency gains more traction in policymaking. Bo Hines, head of Trump’s Presidential Council of Advisers for Digital Assets, recently hinted that officials are considering selling gold from Fort Knox to acquire Bitcoin—so long as the move remains budget-neutral.

Bo Hines: Open to Exploring the Idea

Speaking with FOX Business, Hines emphasized that the administration is open to innovative financial strategies.

“If it’s budget neutral and doesn’t cost a taxpayer a dime, you’re kind of exchanging one for the other,” he explained, suggesting that swapping gold for Bitcoin could be feasible under the right conditions.

While the idea is still in an exploratory phase, Hines noted that the Council is not pushing a fixed plan but rather seeking input from various stakeholders.

Beyond Bitcoin: A Broader Crypto Push

Hines also acknowledged that while Trump previously mentioned Bitcoin, Ethereum, XRP, Solana, and Cardano in his crypto reserve proposal, the administration remains open to other digital assets as well. 

“These were highlighted because of their market cap dominance,” Hines said, but clarified that blockchain innovation across different networks is a key focus.

Lummis Leads the Push for Bitcoin Reserves

Senator Cynthia Lummis has long supported the idea of a national Bitcoin reserve. Her previous BITCOIN Act proposed converting 1 million BTC—around 5% of the total supply—by selling Federal Reserve gold certificates. 

“We already have the financial assets in the form of gold certificates to convert to Bitcoin,” Lummis stated in a Bloomberg interview. “So the effect on the US balance sheet is pretty neutral.” 

Though her earlier proposal failed in Congress, Lummis recently reintroduced a revised bill (S.954) at a crypto policy conference, signaling continued efforts to reshape US financial reserves.

A Growing Movement, but Still Controversial

While the idea of a Bitcoin reserve is still far from mainstream, it is gaining traction among some lawmakers and economic advisors. The debate over whether Bitcoin should be a part of America’s official reserves is ongoing, but what’s clear is that the conversation is no longer being dismissed outright. 

As Bitcoin’s role in global finance continues to evolve, the US government’s stance could shape the future of digital asset adoption.