(Bloomberg) -- Donald Trump’s ally in the U.S. Senate has a plan to fill the president-elect’s proposed strategic bitcoin reserve without adding to the government deficit: Sell some of the Federal Reserve’s gold.
Republican Senator Cynthia Lummis of Wyoming plans to advance a bill to do just that when the new Congress convenes next year. The bill calls for the United States to acquire 1 million bitcoins, representing roughly 5% of the outstanding coins. The purchases would cost about $90 billion at current market prices, though the amount would likely increase if the bill passes and investors buy into the government.$BTC
