Trump allies propose to sell some of the Federal Reserve's gold and buy bitcoin
2024-11-15 02:32:34
On November 15, an ally of US President-elect Donald Trump in the US Senate developed a plan to fill Trump's proposed strategic bitcoin inventory without increasing the government deficit, that is, to sell some of the Federal Reserve's gold. Republican Senator Cynthia Lummis of Wyoming plans to push a bill when the new Congress takes office next year. The bill would require the United States to buy 1 million bitcoins, accounting for nearly 5% of the outstanding tokens. At current market prices, the acquisition would cost about $90 billion, although the amount required could increase if the bill passes and investors move ahead of the government's purchase.
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