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Trump's ally proposes selling some of the Fed's gold in exchange for 1 million Bitcoins

Trump's ally proposes selling some of the Fed's gold in exchange for 1 million Bitcoins

Cointime2024/11/15 03:55
By: Cointime
RSR-0.79%BTC+0.04%

US President-elect Trump has developed a plan with an ally in the US Senate to fill the strategic Bitcoin inventory proposed by Trump without increasing the government deficit by selling some of the Federal Reserve's gold. Republican Senator Cynthia Lummis of Wyoming plans to push a bill in the new Congress next year. The bill requires the United States to purchase 1 million Bitcoins, accounting for nearly 5% of outstanding tokens. Based on the current market price, the purchase will cost about 90 billion US dollars, but if the bill is passed and investors act before the government purchases, the required amount for the purchase may increase. 

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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