The U.S. Federal Reserve is exploring the potential of utilizing profits from gold to establish a national Bitcoin reserve, aiming to fund such an initiative without increasing public debt.
Bitcoin’s current price of around 116,000 USD makes this proposal appealing. U.S. Gold reserves could potentially provide 850 billion USD, approximately 3% of the nation’s GDP, to support this plan.
Senator Cynthia Lummis introduced the BITCOIN Act, allowing the Treasury to purchase up to one million Bitcoin funded by gains from gold, highlighting the Fed’s acknowledgment of this innovative concept.
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