US Considers Gold-to-Bitcoin Swap for National Reserve
- Bo Hines, Trump’s Crypto Council Chief, is open to exchanging US gold reserves for Bitcoin if budget-neutral.
- The idea involves using Fort Knox gold reserves without affecting the government’s budget balance.
- Senator Cynthia Lummis reintroduced the Bitcoin Act to facilitate a major US Bitcoin acquisition.
- Lummis’ proposal includes selling Federal Reserve’s gold holdings to purchase approximately 1 million Bitcoin.
- The plan aligns with Trump’s strategy for establishing a national Bitcoin reserve.
Bo Hines and Senator Lummis are exploring the potential of converting US gold reserves into Bitcoin, aiming for a budget-neutral impact on government finances. Lummis reintroduced legislation to acquire around 1 million Bitcoin through this method.
Source (2.6)https://cryptobriefing.com/bitcoin-reserve-proposal-gold-sale/?rand=59535
