Bo Hines, an advisor in the Trump administration, recently discussed the global competition for accumulating Bitcoin (BTC) and highlighted the US government's determination to succeed in this endeavor. Just weeks prior, Hines had disclosed plans for the country to establish a Bitcoin reserve fund.

In a recent interview, Hines elaborated on how the US aims to benefit from Bitcoin's scarcity, emphasizing its decentralized nature and increasing adoption as factors contributing to its long-term value. Recognizing the urgency to act promptly to prevent other countries from outpacing the US, Hines described the competition for accumulating Bitcoin as akin to a "space race."

He further emphasized the US government's ambition to become a dominant force in the Bitcoin market, aligning with President Trump's vision for digital assets. Referring to Bitcoin as "digital gold," Hines revealed plans for a Strategic Bitcoin Reserve in collaboration with the US Treasury Department, led by Scott Bessent. The audit of current Bitcoin holdings is underway to devise budget-neutral strategies for acquiring more Bitcoin efficiently.

Hines underscored the importance of swift action, with a focus on expediting the accumulation process using various practical and efficient methods. He also mentioned the possibility of utilizing tariff revenues to fund the national Bitcoin reserve amid increasing global competition for Bitcoin.

While reflecting on President Trump's first 100 days in office, Hines highlighted early actions that set the stage for a new digital asset agenda. Initiatives included executive orders, the establishment of an interagency working group, and regulatory changes to support the cryptocurrency industry. Plans for stablecoin and market structure legislation were revealed, awaiting the President's approval.

Despite these developments, Bitcoin's price saw only a modest 0.76% increase in the past 24 hours, trading at $95,039 at the time of writing.