The post Former WH Crypto Director Bo Hines Says Bitcoin Reserve Act Will Be Enacted in 2025 appeared first on Coinpedia Fintech News
Former White House Crypto Director, Bo Hines, currently serving as a strategic adviser at Tether, stated in an interview that he is very confident that the United States government will enact the Bitcoin Reserve Act before the end of 2025. Hines stated that the U.S. government is still interested in accumulating more Bitcoins through budget-neutral ways.
The young accomplished crypto leader highlighted that President Donald Trump remains steadfast in welcoming innovation to the United States. According to Hines, David Sacks, the White House Crypto czar, is working closely with lawmakers, led by Senator Cynthia Lummis, to pass the Bitcoin Act before the end of 2025.
U.S. Bitcoin Reserve Updates
Earlier this month, U.S. Treasury Secretary Scott Bessent announced that the Trump administration is seeking budget-neutral ways to acquire more Bitcoins. Bessent clarified that the U.S. government holds Bitcoin valued between $15 billion and $20 billion.
At the state level, several U.S. states have progressed to implement their respective strategic Bitcoin reserves. For example, New Hampshire became the first state to authorize its treasury to invest up to 5 percent of the public funds in Bitcoin. Several other states, led by Texas, have been pushing to implement strategic Bitcoin reserves.
Other Nations Follow Suit
Last week, the Philippines’ lawmakers introduced a bill to establish a strategic Bitcoin reserve. Notably, the Philippines lawmakers plan to direct the country’s central bank to purchase 2k BTC per year for the next five years.Â
Meanwhile, several countries have already purchased Bitcoins including El Salvador, Bhutan, and Ukraine. The imminent adoption of Bitcoin by the United States will likely influence other countries to follow suite.
