The White House Is Renewing Its Push for a Strategic Bitcoin Reserve. Here's What That Could Mean for Bitcoin.
The Strategic Bitcoin Reserve faces an uncertain path to being implemented.
Overview
Anyone who has priced Bitcoin (CRYPTO: BTC) as if Uncle Sam were about to start hoarding it at scale might be in for a bit of an unpleasant surprise. Sixteen months after President Donald Trump issued an executive order to create a Strategic Bitcoin Reserve, the effort is still a work in progress.
The initial order created the reserve on paper using coins seized during legal proceedings. It didn't allocate capital for purchasing or get Congress to pass any legislation. So with that in mind, let's get caught up with the latest attempt to make the reserve a reality.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
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