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A proposal from Trump's allies: Sell part of the Federal Reserve's gold to buy Bitcoin.

PANewsNov 15, 2024

Allies of incoming U.S. President $Trump have proposed selling a portion of the Federal Reserve's gold to purchase Bitcoin. Wyoming Republican Senator Cynthia Lummis plans to push for a bill when the new Congress is sworn in next year, which would require the U.S. to buy 1 million Bitcoins, accounting for nearly 5% of the outstanding tokens. Based on current market prices, this acquisition would cost around $90 billion. If the bill passes and investors act before the government purchases, the amount needed for the acquisition could increase.

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A proposal from Trump's allies: Sell part of the Federal Reserve's gold to buy Bitcoin.

PANewsNov 15, 2024

Allies of incoming U.S. President Trump have proposed selling a portion of the Federal Reserve's gold to purchase Bitcoin. Wyoming Republican Senator Cynthia Lummis plans to push for a bill when the new Congress is sworn in next year, which would require the U.S. to buy 1 million Bitcoins, accounting for nearly 5% of the outstanding tokens. Based on current market prices, this acquisition would cost around $90 billion. If the bill passes and investors act before the government purchases, the amount needed for the acquisition could increase.

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