National Bitcoin Reserve Advocates
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Satoshi Action FundMarketWatch
•Will a Trump-backed U.S. bitcoin reserve power crypto’s next rally?
73% Informative
Bitcoin prices have pulled back this week after a weekslong rally driven by hopes that a Trump administration will enact crypto-friendly policies.
The idea of a federal bitcoin reserve would have seemed absurd just months ago , particularly to crypto purists.
But this once-fringe idea has gained serious political momentum, with Trump among its prominent supporters.
The U.S. Treasury and Federal Reserve owns roughly 8,100 metric tons of gold.
The government values that gold at $ 42 per ounce, well below the current market price of $ 2,650 .
Lummis wants the Treasury to revalue that gold, and use the paper profit to finance bitcoin purchases.
Critics say this operation would amount to “backdoor borrowing” by the government.
VR Score
74
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