Tapping into US Gold Reserves for Bitcoin Acquisition
The executive director of the President’s Council of Advisers on Digital Assets, Bo Hines, hinted in an interview that the country might tap into the gains from its gold holdings to buy additional Bitcoin, reported Benzinga.
Hines’ suggestion comes at a time when there are concerns about the future of cryptocurrencies and the US’ role in determining the global crypto environment. He proposed that by tapping into the profit of the country’s gold reserve, the US would be able to purchase more Bitcoin without placing any burden on the federal budget, calling the move “budget-neutral,” as per Benzinga.
Bitcoin Act of 2025
He also referred to the Bitcoin Act of 2025, proposed by Sen. Cynthia Lummis (R-Wyo.), according to the report. This act urges the US to buy 1 million Bitcoins, about 5% of the total Bitcoin supply, over the period of five years, reported Benzinga. The US would buy the Bitcoins by getting funding through the sale of Federal Reserve gold certificates, as per the report.
If the proposed act is passed, it could boost America’s presence in the global Bitcoin market, as per the report. With US president Donald Trump’s commitment to crypto, this move could position the US as a leading player in the global crypto market, according to Benzinga. This will also give the US the power to influence Bitcoin’s price and market dynamics, as per the report.
Hines claimed that, “It’s high time that our president started accumulating assets for the American people, which is what president Trump is doing rather than taking it away,” quoted Benzinga.
Bitcoin Superpower
According to the report, in a pre-recorded message, Trump claimed that he is committed to making America the leading Bitcoin superpower and the global hub for cryptocurrency.
FAQs
What is the Bitcoin Act of 2025?
It’s a proposed law that would have the US acquire 1 million Bitcoin over five years by selling Federal Reserve gold certificates.
What’s the role of the Federal Reserve in this plan?
The Federal Reserve’s gold certificates would be sold to fund the Bitcoin purchases.
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