Trump Ally Proposal: Sell Some of the Fed's Gold, Buy 1 Million Bitcoins

BlockBeats News, November 15th, US President-elect Trump's ally in the US Senate has developed a plan to fill Trump's proposed strategic Bitcoin reserve without increasing the government deficit, by selling some of the Federal Reserve's gold reserves. Republican Senator from Wyoming Cynthia Lummis plans to introduce a bill in the upcoming new Congress next year. The bill calls for the US to purchase 1 million Bitcoins, representing nearly 5% of outstanding tokens. Based on the current market price, this purchase would cost about $90 billion, but if the bill is passed and investors act before the government's purchase, the required amount for the purchase may increase. (Forex)