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Allies of Trump propose: Sell part of the Federal Reserve's gold to buy 1 million bitcoins.

TechFlowNov 15, 2024

According to TechFlow news on November 15, citing Jintou Data, the incoming U.S. President $Trump has a plan formulated with an ally in the U.S. Senate aimed at filling the proposed strategic Bitcoin reserve without increasing the government deficit, which involves selling part of the Federal Reserve's gold. Wyoming Republican Senator Cynthia Lummis plans to push for a bill when the new Congress convenes next year. The bill requires the U.S. to purchase 1 million Bitcoins, which constitutes nearly 5% of the outstanding tokens. Based on current market prices, this acquisition would cost about $90 billion; however, if the bill is passed and investors act before the government purchase, the amount needed for the acquisition may increase.

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Allies of Trump propose: Sell part of the Federal Reserve's gold to buy 1 million bitcoins.

TechFlowNov 15, 2024

According to TechFlow news on November 15, citing Jintou Data, the incoming U.S. President Trump has a plan formulated with an ally in the U.S. Senate aimed at filling the proposed strategic Bitcoin reserve without increasing the government deficit, which involves selling part of the Federal Reserve's gold. Wyoming Republican Senator Cynthia Lummis plans to push for a bill when the new Congress convenes next year. The bill requires the U.S. to purchase 1 million Bitcoins, which constitutes nearly 5% of the outstanding tokens. Based on current market prices, this acquisition would cost about $90 billion; however, if the bill is passed and investors act before the government purchase, the amount needed for the acquisition may increase.

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