The Trump administration wants to acquire as much Bitcoin as possible, according to multiple White House officials.
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📝 What you need to know
The Trump administration wants to acquire as much Bitcoin as possible, according to White House officials at a closed-door roundtable event.
During the event, it was also revealed that the White House plans to support legislation that puts a Strategic Bitcoin Reserve into law, and will apply pressure to make sure it passes Congress, following the reintroduction in the Senate this week of Sen. Cynthia Lummis’ (R-WY) Bitcoin Act.
The U.S. Treasury met with three crypto firms this week to discuss best practices for custody of the Strategic Bitcoin Reserve. Elsewhere, Binance CEO Richard Teng heralded plans for the reserve as a “good first step” for government adoption of Bitcoin around the world.
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💬 Quote of the Day
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“The messaging is, look, the largest government, the largest economy, the biggest capital market in the world, is now holding Bitcoin as part of a reserve […] So many sovereign wealth funds are really starting to consider those issues.”
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