Trump allies propose: Sell part of the Federal Reserve's gold to buy Bitcoin

ChainCatcher News, incoming U.S. President Trump has a plan developed by an ally in the U.S. Senate aimed at filling the strategic Bitcoin inventory proposed by Trump without increasing the government deficit, specifically by selling off a portion of the Federal Reserve's gold.

Wyoming Republican Senator Cynthia Lummis plans to push for a bill when the new Congress convenes next year. The bill calls for the U.S. to purchase 1 million Bitcoins, which would account for nearly 5% of the outstanding tokens. At current market prices, this acquisition would cost approximately $90 billion; however, if the bill is passed and investors act before the government purchases, the amount needed for the acquisition could increase.