Bitcoin space race is on and US wants to win it: Bo Hines

Key takeout

The US aims to become a Bitcoin superpower with a strategic approach outlined by the administration.
The Strategic Bitcoin Reserve Initiative highlights the US view of Bitcoin as a digital gold with essentially preserved value.

White House crypto advisor Beau Hines said there is a global space race for the accumulation of Bitcoin and the US is determined to lead it.

“I think there’s definitely a kind of space race because it relates to this accumulation of assets,” said Hines in a recent interview with Bitcoin Magazine. The statement said whether the Trump administration views Bitcoin’s rarity as a reason for quick action to avoid being put into action for the forefront or the forefront of other countries.

“We recognize other ecosystems that exist, which is why we also have national digital assets stockpile,” he added. “We want to encourage innovation in other spaces in the industry.”

According to Hines, Bitcoin’s rarity is different from other crypto assets. He pointed to its early decentralized origins and its growth in market acceptance as a sign of its sustainability.

Hines also said the US positions itself to become the “world’s Bitcoin superpower” in line with the president’s vision for digital assets.

Hines called Bitcoin “digital gold” and said the government is moving quickly to build a strategic Bitcoin reserve. The administration is working with the Treasury to audit existing Bitcoin holdings and develop a “budget-neutral” acquisition method.

Trump’s crypto advisors have revealed that the government is not pursuing a single policy approach, but will explore multiple strategies to determine the most practical and efficient pathway.

According to him, the goal is to start the accumulation process as soon as possible, with the initial steps prioritizing speed and scalability, as well as additional measurements to follow.

“What we’re looking for here is what is the most practical, what can we do in the fastest way, and how to start this accumulation process in the quickest way possible,” he said. “Therefore, these ideas are likely to be prioritized and can be added to them as they continue to move forward.”

Looking back at the administration’s first 100 days, Hines said early actions, including a drastic executive order signed in the first week, set the tone for the new digital asset agenda.

The order has led to a groundbreaking regulatory reversal, establishing an inter-ministerial working group, ending the “Operation Chalk Point 2.0” claim, with the SEC lowering key litigation and bank regulators relaxing restrictions on crypto companies.

“We want to make the United States the world’s crypto capital,” Hines said. “We want to welcome you into the golden age of digital assets.”

The White House aims to set up stubcoins and market structure laws on the president’s desk before the August break, with plans for implementation detailed in the next 180 days of report.

The Senate is expected to vote for the Genius Act, a bill aimed at establishing a regulatory framework for stablecoins before Memorial Day, which is reportedly announced during GOP Senators’ weekly meeting lunch.

The proposed law has been approved by the Senate Banking Committee, and if passed by the Senate, it represents a groundbreaking milestone in US crypto regulations.