To investors,
I went to the White House last week to interview Bo Hines, the Executive Director of the Presidential Council of Advisors on Digital Assets. He is responsible for shaping our national policy on bitcoin, stablecoins, and crypto assets.
You can watch the full episode by clicking here.
Here are some of my personal takeaways from my conversation with Bo:
Crypto has become a bi-partisan effort. There are Republicans and Democrats who understand the importance of the technology and see the industry as politically important.
People from every major government agency are involved in shaping our national crypto policy. The industry touches everything from economics to geopolitics and energy to law enforcement. We are better off having a well-rounded perspective in the room.
The administration understands that bitcoin is unique. They see the digital currency as digital gold and believe it is strategically important for the United States. There is a large appetite within leadership to acquire as much bitcoin as possible. I now believe a good framework to use is “what would happen if bitcoiners infiltrated the White House?” because that is what seems to have happened.
Stablecoins are a big focus at the moment. The administration understands these digital dollars are driving greater global adoption of US dollars, which is ultimately good for the US in the long-run.
Bo Hines and the administration see bitcoin and a strong dollar co-existing in the future. They believe bitcoin is good for the dollar and a strong dollar is good for bitcoin.
Large players, whether we are talking big financial institutions or foreign governments, are all interested in figuring out their strategy for crypto. The White House is fielding calls from all of these groups.
Recent changes at various regulatory organizations should signal a tailwind for the crypto industry. The SEC, CFTC, OCC and other regulators are changing their tune, which can be seen in the personnel changes and some early rule changes.
The administration knows they have to rebuild trust with the industry and with the American people. This is difficult to measure, but they want to work with industry players rather than work against them.
We should expect to see Wall Street and legacy financial firms embrace blockchain technology in various ways, including tokenization.
There is a persistent optimism in the administration about technology in general. Bitcoin and crypto are a key part of their strategy.
Overall, not only was I impressed by Bo Hines, but I also found the administration’s approach refreshing. I did not expect to hear comments like “bitcoin is unique” and “we want to acquire as much as we can.”
With that said, talk is cheap. The administration followed through on an important campaign promise of the Strategic Bitcoin Reserve, but it would be disappointing if they stopped there. The tens of millions of Americans who own these assets are looking for a material improvement in the United States’ position.
Hopefully that is exactly what we will get. Have a great day and I’ll talk to everyone tomorrow.
- Anthony Pompliano
Founder & CEO, Professional Capital Management
America Is Going All-In On Bitcoin with Bo Hines
Bo Hines is the Executive Director of the Presidential Council of Advisers on Digital Assets. This conversation was recorded at the White House.
In this conversation we talk about the US bitcoin strategic reserve, stablecoins, regulation, how decisions are being made, gold, tariffs, law enforcement side, motivational aspect inside Trump admin, biggest surprises so far, and what Bo is looking forward to.
Enjoy!
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