Trump allies propose selling part of the Federal Reserve's gold to purchase 1 million Bitcoins.
According to BlockBeats, on November 15, incoming U.S. President Donald $Trump, with the support of an ally in the U.S. Senate, has formulated a plan aimed at filling $Trump’s proposed strategic Bitcoin reserve without increasing the government deficit by selling off a portion 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 would require 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; however, if the bill is passed and investors act before the government makes the purchase, the required amount for the acquisition could increase. (Jin Shi)
Trump allies propose selling part of the Federal Reserve's gold to purchase 1 million Bitcoins.
According to BlockBeats, on November 15, incoming U.S. President Donald Trump, with the support of an ally in the U.S. Senate, has formulated a plan aimed at filling Trump’s proposed strategic Bitcoin reserve without increasing the government deficit by selling off a portion 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 would require 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; however, if the bill is passed and investors act before the government makes the purchase, the required amount for the acquisition could increase. (Jin Shi)
