According to Odaily, Standard Chartered analyst Geoff Kendrick has suggested that the United States might consider selling a portion of its gold reserves in a budget-neutral manner to fund strategic Bitcoin reserves. Kendrick noted that one option could involve utilizing the Exchange Stabilization Fund (ESF), which holds $39 billion in net assets. He also proposed that under federal leadership, U.S. states and institutional investors, including long-term pension funds, could be encouraged to allocate investments into Bitcoin.