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US Gov Could Mine Bitcoin Through Public-Private Deal, Says White House Exec

  • Bo Hines of the President's Council of Advisors on Digital Assets hinted at a potential public-private partnership with US miners to grow the Strategic Bitcoin Reserve without additional federal spending.
  • The Strategic Bitcoin Reserve, established by Executive Order 14233, aims to accumulate BTC through innovative approaches, including utilizing digital assets from forfeitures and potential partnerships with miners.
  • The White House is exploring options where miners could divert a portion of block rewards directly to Treasury in exchange for benefits like power contracts. This partnership could enhance US hash rate and supply the government with freshly mined Bitcoin.
  • The discussion also touched on the GENIUS Act for stablecoins, with Hines envisioning it could elevate digital asset market capitalization significantly. The government aims to maximize Bitcoin accumulation through legal means and has a strict timeline to comply with the Executive Order.

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