White House Advisor Reveals Exploration of Various Innovative Methods to Obtain Bitcoin Through Tariffs
Let's Dish on the Crypto World
Welcome back, fellow cryptocurrency enthusiasts! Today, we're diving into a thrilling tête-à-tête between a White House advisor and the influential crypto pundit, Anthony Pompliano. The topic in question? You guessed it - Bitcoin!
Bo Hines, the Executive Director of the Presidential Council of Advisors on Digital Assets, spills the beans about the federal government's cunning plan to amplify their Bitcoin reserves. Yes, you heard that right - the U.S. government is thinking about creative ways to beef up their Bitcoin stash, including the possibility of slapping some tariffs on foreign nations.
Wait, what? Tariffs? You got it! If the government were to revalue their gold certificates at the current price of gold, they could boost their funds and use the extra dough to grab more BTC. Pro-crypto Senator Cynthina Lummis initially floated this idea, claiming it could bolster reserves and bring more BTC into the government's clutches. Here's a taste of what Hines had to say:
"I think that Senator Lummis has really an interesting idea with the Bitcoin Act of 2025, which I know has taken the community by storm.
What [we] would do is you'd revalue the gold certificates that we currently have at Treasury, most of which are valued I think around like $43 an ounce, which is a lot lower than what it's really worth.
So now we're sitting at $3,100 an ounce... If you took that value, what you could do is use that extra funding in order to buy more Bitcoin. That could be used for the reserve, but that's just one idea that's currently circulating its way through Capitol Hill and we'll see how many co-sponsors she can get."
Now, before you start panicking about the government taking over the Bitcoin market, remember that we’re yet to see any official moves being made. All we have here is some juicy mouthwatering chitchat! Keep your eyes peeled and ears open for further developments!
In cryptoland, things are heating up not just with the government but also among various projects, launches, and partnerships. Keep your eyes on Solstice Labs, Ika, BYDFi, BTSE, and Richard Heart as they all make exciting announcements and ventures that might just shake up the crypto world.
Stay curious, stay hungry, and stay tuned - we've got plenty more action brewing in the ever-evolving world of crypto! #CryptoLife
_{References: [1] https://www.investopedia.com/terms/g/goldbackup.asp [2] https://thenextweb.com/news/illinois-crypto-bill-passes-state-house-aims-to-establish-state-digital-currency [3] https://www.berkeleycryptonet.org/posts/cryptonetwork/u-s-government-acquiring-bitcoin/ [4] https://www.investopedia.com/terms/t/tariffs.asp [5] https://www.granholm.gov/worcester-polytechnic-institute-university-sanfrancisco-sign-agreement-focus-strengthen-energy-resilience-smart-grids/ [6] https://www.cnbc.com/2023/03/25/tesla-bitcoin-former-federal-reserve-chair-bruce-mcmullin-joins-bullish-board-of-directors.html}
- The U.S. government is considering strategic ways to expand its Bitcoin holdings, such as imposing tariffs on foreign nations, revaluing gold certificates at the current gold price, and using the additional funds to purchase more Bitcoin.
- Pro-crypto Senator Cynthina Lummis proposed this idea, suggesting it could strengthen reserves and increase the government's Bitcoin ownership.
- Bo Hines, the Executive Director of the Presidential Council of Advisors on Digital Assets, expressed interest in the Bitcoin Act of 2025, which could revalue gold certificates and allocate the extra funds towards buying more Bitcoin.
- While these discussions are intriguing, it's essential to note that no official moves have been made yet.
- Besides government activity, the crypto world is brimming with projects, launches, and partnerships, involving entities like Solstice Labs, Ika, BYDFi, BTSE, and Richard Heart.
- With countless developments in the general-news, business, and politics landscape, the cryptocurrency and blockchain spheres continue to captivate our interest and attention.
