White House Official Confirms #Bitcoin Reserve Is Coming, Says U.S. Is a #BTC Fan and Won’t Issue a CBDC. When asked to reveal the number of Bitcoins the government owns and whether it will be made public, Hines declined to comment. “I can’t discuss that right now. There are several reasons why we are not disclosing that information at this time,” Hines remarked. Nonetheless, he revealed that the U.S. government intends to acquire “as much Bitcoin as possible” and will keep working towards that goal. The director of digital assets stated that the acquisition will be carried out in a budget-neutral way without requiring new appropriations. Furthermore, Hines emphatically stated that the U.S. government will not issue a stablecoin or CBDC. He said the president’s executive order already prohibits the issuance of a CBDC. He noted that Fed Chair Jerome Powell has, on three occasions, confirmed that a CBDC would need Congressional approval. This requirement was also echoed in the GENIUS Act, destroying the prospects of CBDC. “Why would you ever want to use a government-backed stablecoin? There’s no purpose for it, and there’s no reason for it. We don’t want Big Brother spying on American consumers, and we feel extremely strongly about this,” he added.
