- In a podcast, Bo Hines declined to say how much Bitcoin the US government holds.
- The US may control less Bitcoin than previously estimated.
- The reserve total hinges on how seized assets are classified.
Bo Hines had plenty to say about the booming stablecoin industry and evolving market structure for cryptocurrencies during his latest podcast appearance.
But when it came to how much Bitcoin the US government actually holds, the White House Crypto Council executive director clammed up.
Appearing on the Crypto in America podcast, Hines was asked whether the new digital asset report addressed the government’s Bitcoin stash.
‘Can’t discuss’
Hines is responsible for coordinating the Trump administration’s crypto policy.
Co-host Jacquelyn Melinek pressed him for a ballpark figure, but Hines repeatedly deflected.
“I can’t discuss that right now,” he said. “There are several reasons we’re not disclosing that at this time.” Hines did not elaborate on what those reasons were.
He added that the administration wants “as much Bitcoin as we can possibly get,” and would begin accumulation through “budget-neutral” methods, without giving specifics.
The evasiveness comes amid growing speculation over how much Bitcoin the US government actually controls and whether it’s enough to support a credible Strategic Bitcoin Reserve.
Senator Cynthia Lummis, who championed the initiative, recently expressed shock at reports suggesting the government holds just 29,000 Bitcoin. It’s a far cry from the 200,000 once estimated by Trump’s crypto czar, David Sacks.
In reality, the true number likely falls somewhere in between.
The confusion stems from how the government’s Bitcoin holdings are classified.
Only forfeited coins, handed over at the conclusion of a criminal case, can legally be counted as government property, while seized assets remain in legal limbo, often tied up in ongoing court proceedings.
“With each passing month, it’s becoming clear this is now viewed as a sensitive issue,” crypto analyst MacroScope wrote on X.
Despite declining to share numbers, Hines affirmed the administration’s commitment to buying Bitcoin and said the reserve infrastructure would begin rolling out “in short order.”
“We’re enormous fans of Bitcoin and the Bitcoin community,” he said. “We want to deliver for them.”
Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at kbaird@dlnews.com.
