Administration Plans $3,200 Gold Trick for Bitcoin Buys

A decades-old accounting quirk could fuel America’s entry into sovereign Bitcoin ownership, as the Trump administration explores revaluing Treasury gold certificates from $43 to over $3,200 per ounce to fund cryptocurrency purchases. Bo Hines, Executive Director of the President’s Council of Advisers on Digital Assets, revealed this strategy during a White House interview, describing it as one of several “creative ways” the government is considering to acquire Bitcoin without new taxpayer funding, according to 99Bitcoins.

“One of the most discussed proposals is Senator Cynthia Lummis’ Bitcoin Reserve Act of 2025,” Hines explained during his conversation with crypto investor Anthony Pompliano. The approach would revalue gold certificates currently carried on government books at just $43 per ounce to reflect current market prices of approximately $3,200 per ounce, creating a substantial paper surplus that could be directed toward Bitcoin purchases.

This accounting maneuver, alongside the potential use of tariff revenue for cryptocurrency acquisitions, signals the administration’s determination to position the United States as a global leader in digital assets while developing funding strategies that sidestep traditional appropriations processes. “Everything’s on the table,” Hines emphasized, “and we want as much Bitcoin as we can get.”

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Ancient Ledgers Meet Digital Currency

The gold certificate strategy represents a fascinating intersection of old and new financial systems. Treasury gold certificates essentially reflect the government’s gold holdings, but their book value hasn’t been updated since the United States abandoned the gold standard in the early 1970s. This has created a massive disparity between the recorded value of government gold and its actual market worth.

By updating these certificates to reflect current gold prices — approximately $3,200 per ounce compared to the current book value of around $43 — the administration could create a substantial accounting surplus without selling any physical gold. This surplus could then theoretically be allocated toward Bitcoin purchases.

“If you took that value, you could use that extra funding to buy Bitcoin, which can be used for the reserve,” Hines explained in the interview with Pompliano. This approach effectively leverages legacy accounting practices to fund entry into cutting-edge digital assets, bridging America’s monetary past with what some in the administration see as its financial future.

Tariffs: From Trade War to Crypto Treasure

Beyond the gold certificate strategy, Hines revealed that the administration is also considering using tariff revenue to fund Bitcoin purchases. “We’re looking at many creative ways, whether it be from tariffs or something else,” he stated during the interview, according to The Street.

The consideration of tariff revenue as a Bitcoin funding source aligns with the administration’s broader trade policies, which have generated billions in government income through duties on imported goods. Rather than flowing into general revenue, these funds could potentially be directed toward building what some officials view as a 21st-century equivalent to gold reserves.

This approach would effectively transform the administration’s contentious trade policies into a mechanism for national cryptocurrency acquisition — a surprising connection between two seemingly unrelated policy areas that could reshape how economists view the impact of tariffs on national finances.

The “Startup” White House: Moving at Tech Speed

The administration’s aggressive approach to cryptocurrency policy appears to be operating on an accelerated timeline compared to traditional government initiatives. Hines described the White House’s current pace as “tech speed,” comparing their operations to those of a startup rather than a conventional bureaucracy.

“We’re moving at tech speed — it’s like we’re a startup in this building,” he said, indicating a significant departure from the typically measured pace of government policy development. A comprehensive national framework for digital assets is expected by late July or August, addressing key regulatory questions surrounding tokenization, staking mechanisms, and the promotion of U.S. dollar-backed stablecoins.

The government has already established two distinct national cryptocurrency initiatives: a Strategic Bitcoin Reserve specifically for Bitcoin, using primarily seized assets as initial funding, and a Digital Asset Stockpile for other confiscated cryptocurrencies that might be strategically deployed or liquidated as needed.

States Racing Toward Bitcoin Adoption

The federal government’s interest in Bitcoin acquisition coincides with remarkable momentum at the state level. Currently, 47 Bitcoin reserve bills have been introduced across 26 states, with 41 still active in various legislatures, demonstrating growing institutional interest in cryptocurrency holdings across multiple levels of government.

This state-level activity suggests Bitcoin adoption is gaining traction beyond federal initiatives, potentially creating a competitive environment where states vie to establish their own cryptocurrency reserves ahead of possible price appreciation. The trend underscores how digital asset adoption is moving from theoretical discussion to concrete policy across American governance structures.

“This could be the first time that America will be seeing and perceiving Bitcoin in a different light if the plan pushes through,” noted Crypto Times, highlighting the significance of this policy shift for mainstream Bitcoin acceptance.

Conflict Questions Cloud Bitcoin Ambitions

Despite the administration’s enthusiasm, the interview notably avoided addressing potential conflicts of interest related to the former president’s personal involvement in cryptocurrency ventures. These include the controversial TRUMP meme coin, which some lawmakers claim has generated over $100 million in trading fees for Trump-linked entities, and the Trump family’s reported involvement with World Liberty Financial.

House Democrats have been particularly vocal in their criticism. Representative Maxine Waters has described the TRUMP meme coin as emblematic of the “worst of crypto,” while Representative Gerald E. Connolly dismissed it as a “money grab,” raising questions about the relationship between personal financial interests and national policy.

Critics have also questioned whether the promised audit of existing government Bitcoin holdings has been completed. This audit was mandated to conclude within 30 days of President Trump’s March 6 executive order establishing the Strategic Bitcoin Reserve, but no public results have been announced.

The $3,200 Question: Will It Work?

Financial experts remain divided on whether the proposed gold certificate revaluation would actually provide legally viable funding for Bitcoin purchases. The approach would essentially involve an accounting adjustment rather than new appropriations, raising questions about whether existing budget authorities would permit such a maneuver.

Additionally, the use of tariff revenue for Bitcoin acquisition may face legal challenges related to the specific congressional authorizations under which those tariffs were implemented. Typically, tariff revenue flows to the general fund rather than being earmarked for specific purposes, potentially complicating the administration’s plans.

As government officials continue developing their cryptocurrency strategy, these legal and accounting questions will likely require careful navigation. The administration’s determination to acquire Bitcoin through budget-neutral methods demonstrates both creative financial thinking and the growing institutional legitimization of cryptocurrency as a potential national asset class.

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