The Trump administration is reportedly moving forward with plans to establish a strategic Bitcoin reserve. Robert "Bo" Hines, the executive director of the U.S. President's Council of Advisers on Digital Assets, has confirmed that the administration is still keen on this initiative.

Hines, in an interview on "Crypto in America" on Wednesday, stated that the administration "believe[s] in accumulation". He noted that the strategic Bitcoin reserve has already been established and that the U.S. also possesses a "strategic national digital assets stockpile". According to Hines, Bitcoin is in "a class of its own and everyone recognizes that". He added that the administration intends to "give credence" to the developments occurring across other ecosystems.

Despite Hines's reaffirmation, the recently released 166-page crypto policy report by the President's Working Group on Digital Asset Markets did not mention the strategic Bitcoin reserve. The report focused on creating a clear regulatory framework. Hines acknowledged this omission but emphasized the administration's continued support for Bitcoin and the digital asset community.

When asked about the amount of Bitcoin currently held by the federal government, Hines declined to provide specific figures, citing undisclosed reasons. However, he affirmed the administration's objective of "getting as much as we can possibly get" and expanding the reserve. While the exact figures are not officially confirmed, Nansen, a blockchain analytics firm, estimates that the U.S. government holds approximately 198,000 BTC, valued at around $2.35 billion.

Hines indicated that the accumulation process is in its early stages and is being approached with careful planning and infrastructure development. He suggested that the administration is moving "in short order" to advance the initiative, though the exact timeline remains unclear. Hines stated that building the infrastructure takes time and labor to ensure it's done the right way and has long-term success, adding that there are "countless ways" to accumulate Bitcoin. "I think that people will be very pleased with the direction that we are going, and we'll start moving on that in short order," he said.

The lack of specific details regarding the Bitcoin reserve in the White House's digital asset policy report has led to speculation about the administration's transparency and priorities. While the report outlines regulatory reforms, it does not provide updates on the reserve's status. Despite the executive order mandating its creation, Hines suggested that the government might not release a detailed public report on the initiative.