The U.S. government is gearing up for a Bitcoin Reserve, according to recent Senate Banking Committee updates. Here's what it means for crypto.
Senate, Bitcoin, and the Reserve: What's the Deal?
Word on the street is that the U.S. government is prepping for a Bitcoin Reserve, and the Senate's been buzzing about it. Let's break down what's happening with the Senate, Bitcoin, and this potential Reserve.
A Bitcoin Reserve? Tell Me More!
Remember when Trump was all about Bitcoin? Well, the idea of a federal Strategic Reserve has been a big deal for crypto enthusiasts. Although his previous executive order leaned heavily towards altcoins, the industry and voters weren't thrilled. But don't worry, the dream is still alive!
Bo Hines, a White House crypto advisor, spilled the beans at a recent Senate Banking Committee press conference. According to him, the U.S. has finished accounting for all the Bitcoin held by federal institutions. This is a crucial step towards consolidating it into a Reserve.
Hines stated, “Now, the process begins of establishing the Reserve, the actual infrastructure behind it. We are certainly keen on the idea of accumulation; we believe it’s in the best interest of the United States to acquire as much as we can get.
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