Standard Chartered Analyst: The US strategic Bitcoin reserve may achieve "budget neutrality" by selling gold

TechFlow news, on March 7th, according to The Block report, Geoff Kendrick, the head of digital asset research at Standard Chartered Bank suggested that the United States could buy Bitcoin by selling part of its gold reserves valued at $760 billion. This would serve as a "budget-neutral" source of funds for the newly established Strategic Bitcoin Reserve (SBR). This proposal follows closely after President Trump signed an executive order requiring that acquiring Bitcoin should not increase the burden on American taxpayers.

In an email, Kendrick stated: "Theoretically, selling gold to buy Bitcoin could constitute a budget-neutral strategy." He also proposed other possible sources of funding including using the Exchange Stabilization Fund (ESF) with a net worth of $39 billion and referring to Senator Cynthia Lummis's '2024 Bitcoin Act'. The act suggests buying 200 thousand Bitcoins each year over five years.