SC "US may sell gold to fund BTC stockpile

According to The Block, Standard Chartered (SC) analyzed in a report that the US may sell its gold reserves to fund a BTC stockpile. "The key to this stockpile proposal is that the executive order must find a way to acquire additional BTC, but it must be budget-neutral, i.e., it must not cost the government any additional money. Strategies to do this could include selling gold and buying Bitcoin. The U.S. government currently holds $760 billion in gold. Alternatively, you could tap into the U.S. Treasury's Exchange Stabilization Fund (ESF). This fund currently holds $39 billion in assets. Alternatively, Senator Cynthia Loomis's ‘Bitcoin Act of 2024’ could be amended to purchase 200,000 BTC over five years in a budget-neutral manner." SC added, "The US announcement of BTC stockpiling is likely to trigger ‘FOMO’ (fear of missing out) in other countries. Already, Abu Dhabi holds 4,700 BTC worth of IBIT (Bitcoin ETF), and other sovereign wealth funds are likely to join the ranks of Bitcoin buyers." Meanwhile, the White House is hosting a crypto summit today at 4pm.