U.S. Could Acquire 1 Million Bitcoin by Selling Gold Reserves
Analysts predict the U.S. could own over 1 million Bitcoin in five years. This would happen if the government sells 15% of it’s gold reserves, according to matrixport, a Singapore-based blockchain firm.
Senator Cynthia Lummis proposed using the gold reserves’ market value to buy Bitcoin. The gold is worth about $688 billion, much more than its book value of $11 billion. Selling this gold could fund the purchase of 1.05 million BTC.
Though, this move might cause market volatility. The BITCOIN Act suggests selling gold at market prices to buy Bitcoin. This plan aligns with President Trump’s vision to make the U.S. the “crypto capital of the world.” Trump plans to host the first White House Crypto Summit on March 7.The summit aims to establish a U.S. Strategic Cryptocurrency Reserve.This reserve would focus on major cryptos like Bitcoin, Ethereum, and others.
Trump signed an executive order for a Strategic Bitcoin Reserve. The reserve will use seized Bitcoin, not taxpayer money. The U.S. already holds around 200,000 BTC, but a full audit is pending. The executive order bans selling Bitcoin from the reserve, treating it like a “digital Fort Knox.”
White House AI and Crypto czar David Sacks noted the U.S. holds about 200,000 BTC. The reserve will include bitcoin, Ethereum, XRP, Solana, and Cardano.
Trump’s order mandates a full accounting of federal digital assets. The U.S. aims to acquire bitcoin without taxpayer costs. The reserve will not sell its Bitcoin holdings.
