Allies of the incoming U.S. President Donald Trump have proposed a plan to sell off some of the Federal Reserve's gold in order to purchase 1 million bitcoins. Wyoming Republican Senator Cynthia Lummis plans to push for a bill when the new Congress convenes next year, calling for the U.S. to purchase approximately 90 billion dollars' worth of bitcoin.

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Odaily Planet Daily News - The incoming U.S. President Donald Trump has a plan formulated by an ally in the U.S. Senate aimed at filling the strategic Bitcoin reserves proposed by Trump without increasing the government deficit, by selling off some 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 mandates the U.S. to purchase 1 million Bitcoins, which would account for nearly 5% of the outstanding tokens. Based on current market prices, this acquisition would cost approximately 90 billion USD; however, if the bill passes and investors act before the government purchase, the required amount for the acquisition may increase. (Jin Shi)

Trump ally proposes: Sell part of the Federal Reserve's gold to purchase 1 million bitcoins.

Trump ally proposes: Sell part of the Federal Reserve's gold to purchase 1 million bitcoins.