Robert “Bo” Hines, executive director of the President’s Advisory Council on Digital Assets, said that if the move to sell a portion of Fort Knox’s gold to buy Bitcoin remains budget-neutral, it could be considered.
Hines spoke to journalists Eleanor Terrett and Jacqueline Melinek in an interview on March 21.
It should be noted that President Trump signed the executive order on March 6th to establish a strategic Bitcoin Reserve consisting of BTC, which was confiscated by federal agencies. The order also said the government will acquire Bitcoin in the future through a “budget-neutral” approach.
During the interview, Terrett asked Hines if he could give an example of a budget-neutral way to buy Bitcoin. In response, Hines mentioned Sen. Cynthia Ramis (R-WY) Bitcoin Bill.
Senator Ramis’ bill, once legislation, codifies Trump’s executive order. The bill details how the government can reassess the true value of certain gold certificates, Hines said. If the government recognizes the profit after revaluation, it can use additional funds to acquire more Bitcoin. “It’s a budget-neutral way to get more Bitcoin,” Hines said.
Terrett further asked if the government could “theoretically” sell a portion of Fort Knox gold to buy Bitcoin. “Well, if it’s neutral and doesn’t cost taxpayers a single dime,” Hines said.
He added that the Trump administration is open to “new ideas” and “innovative approaches” to code.
Melinek questioned Hines about the government’s choice of five assets, IE, Bitcoin, Ethereum, XRP, Solana and Cardano, for its holdings. Hines said the government chose these specific assets based on market capitalization.
According to the on-chain analytics platform Arkham, the US government owns 198,109 BTC, worth $16.6 billion, as of March 21.