An ally of Donald Trump in the US Senate, Republican Senator Cynthia Lummis of Wyoming, plans to introduce a bill to sell off some of the Federal Reserve's gold in order to acquire 1 million Bitcoin, representing nearly 5% of the outstanding tokens. The purchases would cost about $90 billion at current market prices.

Senator Lummis proposes selling gold to create a Fed Bitcoin reserve, aligning with Trump’s pro-crypto policies.

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As the U.S. embraces a new political era under President Trump’s leadership, the crypto market is abuzz with speculation about significant policy shifts. Adding to this momentum, Senator Cynthia Lummis has proposed an ambitious bill calling for the U.S. government to sell a portion of its gold reserves to fund the purchase of 1 million Bitcoin [BTC], as per a Bloomberg report. This “Fed Bitcoin Reserve” initiative is estimated to cost approximately $90 billion at current prices. Though Lummis cautions the cost could rise if the market anticipates such a large-scale acquisition. Lummis believes that Bitcoin offers unparalleled advantages as a reserve asset compared to traditional holdings like gold. By leveraging Bitcoin’s decentralized and deflationary nature, Lummis argues, the U.S. could strengthen its financial position.“A pro-crypto cavalry is arriving in Washington,” Lummis remarked, signaling a growing acceptance of digital assets within U.S. policymaking circles.Trump’s pro-crypto stance and its potential impactPresident Trump’s victory in the recent election has fueled optimism in the crypto community, particularly with rumors of his administration eliminating capital gains taxes on digital assets. If enacted, such a move would make investing in assets like Bitcoin more appealing to both retail and institutional investors. This tax relief could align perfectly with Senator Lummis’s Fed Bitcoin proposal, as it would encourage broader adoption and elevate Bitcoin’s status as a legitimate financial asset.Lummis’s bill could also drive international adoption of Bitcoin, setting a precedent for other nations to consider similar reserves. By transitioning from gold to Bitcoin, the U.S. would send a strong message about its confidence in digital currencies, potentially accelerating global acceptance and investment in the asset.Bitcoin adoption through government actionThe creation of a Fed Bitcoin Reserve could be a game-changer for Bitcoin adoption. Large-scale purchases by the U.S. government would not only validate Bitcoin’s role in the financial ecosystem but could also stabilize its price and encourage broader participation. For investors, the possibility of government involvement represents a new era of legitimacy for digital assets.Read Bitcoin’s [BTC] Price Prediction 2024–2025 Initiatives like Lummis’s bill highlight how government actions could lead to greater adoption and integration of cryptocurrencies in mainstream finance. 

Senator Lummis proposes Fed Bitcoin reserve, funding plan with sale of gold

Wyoming Republican Senator Cynthia Lummis has proposed a plan to sell the Federal Reserve's gold to purchase Bitcoin, in order to establish a strategic reserve of Bitcoin. Analysis suggests that the gold owned by the Federal Reserve is sufficient to buy 1 million Bitcoins, but liquidating government gold could potentially lower market prices. Cynthia Lummis stated that the impact on the U.S. balance sheet is neutral.

Odaily Planet Daily reports that Wyoming Republican Senator Cynthia Lummis previously proposed a plan to sell some of the Federal Reserve's gold in order to establish a Bitcoin strategic reserve, as suggested by the presidential candidate, without increasing the government deficit. 

Analysts believe that theoretically, the gold held by the Federal Reserve is sufficient to purchase 1 million Bitcoins, with a considerable surplus remaining. The Federal Reserve's balance sheet lists certificates representing gold held by the Treasury, valued at approximately 11 billion dollars. However, this value is based on the so-called statutory price, which has been fixed at 42.2222 dollars per ounce since 1973. At current spot prices, the value of this batch of gold is around 675 billion dollars, but liquidating a large amount of government gold could pose risks of depressing market prices. Based on current market prices, purchasing such a quantity of Bitcoin would cost approximately 90 billion dollars, but if Cynthia Lummis's proposal is passed, investors might rush to buy before the U.S. government, potentially increasing the purchase amount.

Cynthia Lummis explained, "We already have financial assets in the form of gold certificates that can be converted into Bitcoin. Therefore, the impact on the U.S. balance sheet is very neutral." (Bloomberg)

U.S. Senator: Selling gold to buy Bitcoin has a very neutral impact on the U.S. balance sheet.

Allies of incoming U.S. President Trump have proposed selling a portion of the Federal Reserve's gold to purchase Bitcoin. Wyoming Republican Senator Cynthia Lummis plans to push for a bill when the new Congress is sworn in next year, which would require the U.S. to buy 1 million Bitcoins, accounting for nearly 5% of the outstanding tokens. Based on current market prices, this acquisition would cost around $90 billion. If the bill passes and investors act before the government purchases, the amount needed for the acquisition could increase.

PANews, November 15 - According to Jinshi reports, U.S. President-elect Donald Trump, with the support of an ally in the U.S. Senate, has devised a plan to fill the strategic Bitcoin inventory proposed by Trump without increasing the government deficit by selling part of the Federal Reserve's gold. Wyoming Republican Senator Cynthia Lummis plans to promote a bill when the new Congress is sworn in next year. The bill calls for the U.S. to purchase 1 million Bitcoins, which would account for nearly 5% of the outstanding tokens. Based on current market prices, this acquisition would cost approximately $90 billion; however, if the bill is passed and investors act before the government makes its purchase, the required amount for the acquisition may increase.

A proposal from Trump's allies: Sell part of the Federal Reserve's gold to buy Bitcoin.

According to TechFlow news on November 15, citing Jintou Data, the incoming U.S. President Trump has a plan formulated with an ally in the U.S. Senate aimed at filling the proposed strategic Bitcoin reserve without increasing the government deficit, which involves selling part 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 requires the U.S. to purchase 1 million Bitcoins, which constitutes nearly 5% of the outstanding tokens. Based on current market prices, this acquisition would cost about $90 billion; however, if the bill is passed and investors act before the government purchase, the amount needed for the acquisition may increase.

According to a report from Deep Tide TechFlow on November 15, former President Trump has a plan set forth by an ally in the U.S. Senate to fill the strategic Bitcoin reserves he proposed without increasing the government deficit, which involves selling 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 requires the U.S. to purchase 1 million Bitcoins, accounting for nearly 5% of the outstanding tokens. At current market prices, this acquisition would cost about 90 billion USD, but if the bill is passed and investors act before the government purchases, the required amount for the acquisition could increase.

Allies of Trump propose: Sell part of the Federal Reserve's gold to buy 1 million bitcoins.

Allies of the incoming U.S. President Donald Trump have proposed a plan to sell off some of the Federal Reserve's gold in order to purchase 1 million bitcoins. Wyoming Republican Senator Cynthia Lummis plans to push for a bill when the new Congress convenes next year, calling for the U.S. to purchase approximately 90 billion dollars' worth of bitcoin.

Odaily Planet Daily News - The incoming U.S. President Donald Trump has a plan formulated by an ally in the U.S. Senate aimed at filling the strategic Bitcoin reserves proposed by Trump without increasing the government deficit, by selling off some 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 mandates the U.S. to purchase 1 million Bitcoins, which would account for nearly 5% of the outstanding tokens. Based on current market prices, this acquisition would cost approximately 90 billion USD; however, if the bill passes and investors act before the government purchase, the required amount for the acquisition may increase. (Jin Shi)

Trump ally proposes: Sell part of the Federal Reserve's gold to purchase 1 million bitcoins.

According to BlockBeats, on November 15, incoming U.S. President Donald Trump, with the support of an ally in the U.S. Senate, has formulated a plan aimed at filling Trump’s proposed strategic Bitcoin reserve without increasing the government deficit 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 would require the U.S. to purchase 1 million Bitcoins, which would account for nearly 5% of the outstanding tokens. Based on current market prices, this acquisition would cost approximately $90 billion; however, if the bill is passed and investors act before the government makes the purchase, the required amount for the acquisition could increase. (Jin Shi)

<p>According to BlockBeats, on November 15, U.S. President-elect Donald Trump and an ally in the U.S. Senate have developed a plan aimed at filling the strategic Bitcoin reserves proposed by Trump without increasing the government deficit by selling off a portion of the Federal Reserve's gold. Republican Senator Cynthia Lummis from Wyoming plans to push a bill when the new Congress is sworn in next year. The bill calls for the U.S. to purchase 1 million Bitcoins, representing nearly 5% of the outstanding tokens. Based on current market prices, this acquisition would cost approximately $90 billion; however, if the bill is passed and investors act before the government makes the purchase, the required amount for the acquisition may increase. (Jin Shi) </p>

Trump allies propose selling part of the Federal Reserve's gold to purchase 1 million Bitcoins.

BlockBeats News, November 15th, US President-elect Trump's ally in the US Senate has developed a plan to fill Trump's proposed strategic Bitcoin reserve without increasing the government deficit, by selling some of the Federal Reserve's gold reserves. Republican Senator from Wyoming Cynthia Lummis plans to introduce a bill in the upcoming new Congress next year. The bill calls for the US to purchase 1 million Bitcoins, representing nearly 5% of outstanding tokens. Based on the current market price, this purchase would cost about $90 billion, but if the bill is passed and investors act before the government's purchase, the required amount for the purchase may increase. (Forex)

<p>BlockBeats News, November 15th, US President-elect Trump's ally in the US Senate has developed a plan to fill Trump's proposed strategic Bitcoin reserve without increasing the government deficit, by selling some of the Federal Reserve's gold reserves. Republican Senator from Wyoming Cynthia Lummis plans to introduce a bill in the upcoming new Congress next year. The bill calls for the US to purchase 1 million Bitcoins, representing nearly 5% of outstanding tokens. Based on the current market price, this purchase would cost about $90 billion, but if the bill is passed and investors act before the government's purchase, the required amount for the purchase may increase. (Forex)</p>

Trump Ally Proposal: Sell Some of the Fed's Gold, Buy 1 Million Bitcoins

A US Senator known for his closeness to Donald Trump made a statement suggesting buying Bitcoin. Senator Cynthia Lummis plans to introduce legislation for a “strategic Bitcoin reserve” without affecting the federal budget deficit. The proposal aims to finance the purchase of 1 million Bitcoins by selling some of the Fed’s gold holdings. The senator’s plan would significantly expand Trump’s vision for a strategic Bitcoin reserve. Skepticism persists regarding the feasibility of creating a Bitcoin reserve.

Senator Cynthia Lummis, known as an ally of US President-elect Donald Trump, plans to introduce legislation for a “strategic Bitcoin reserve” without affecting the federal budget deficit. Bitcoin Purchases Could Solve US Debt Crisis, Says Lummis Lummis’ proposal aims to finance the purchase of 1 million Bitcoins (about 5% of the token’s total supply) by selling some of the Fed’s gold holdings. Lummis estimates that building that stockpile would cost around $90 billion at current BTC prices, but acknowledges that market backlash to such a large purchase could drive up the cost. “We already have the financial assets in the form of gold certificates to convert to Bitcoin,” Lummis told Bloomberg, adding that the impact on the U.S. balance sheet would be “fairly neutral.”  The senator’s proposal would significantly expand Trump’s vision for a strategic Bitcoin reserve, which currently only includes 200,000 Bitcoins held by the government after assets are seized. Under Lummis’ plan, the U.S. would hold Bitcoin for at least 20 years in the hope that the expected increase in its value could help reduce the national debt over time. While the proposal highlights the growing interest of the U.S. government in cryptocurrencies, skepticism persists. Polymarket’s market forecasts suggest that President-elect Trump has only a 31% chance of actually creating a Bitcoin reserve, amid concerns about Bitcoin’s volatility and the need for broader congressional consensus. Jennifer J. Schulp, director of financial regulation studies at the Cato Institute’s Center for Monetary and Financial Alternatives, expressed skepticism: “The bill is asking senators and members of Congress who don’t understand crypto very well to take a much bigger leap of faith in its long-term viability.” *This is not investment advice.

US Senator Proposes Strategic Bitcoin Reserve, Selling Fed's Gold to Finance Purchase

According to Bloomberg, U.S. Senator Cynthia Lummis is pushing a new proposal that the Federal Reserve sell part of its gold reserves and use the proceeds to buy Bitcoin. Lummis said that although gold is a traditional safe-haven asset, Bitcoin, as digital gold, is attracting more and more investors with its growth potential and security. 

According to Bloomberg, U.S. Senator Cynthia Lummis is promoting a new proposal that suggests the Federal Reserve sell part of its gold reserves and use the proceeds to purchase Bitcoin. Lummis is a well-known Bitcoin advocate in the U.S. Congress, and this move is seen as her latest attempt to promote the development of digital assets. Lummis stated, "While gold is a traditional safe-haven asset, Bitcoin, as digital gold, is attracting more and more investors due to its growth potential and security."

<div>According to Bloomberg, U.S. Senator Cynthia Lummis is advocating for a new proposal that suggests the Federal Reserve sell part of its gold reserves and use the proceeds to purchase Bitcoin. Lummis is a well-known Bitcoin supporter in the U.S. Congress, and this move is seen as her latest attempt to promote the development of digital assets. Lummis stated, "While gold is a traditional safe-haven asset, Bitcoin, as digital gold, is attracting more and more investors due to its growth potential and security."<br/><br/></div>

Cynthia Lummis proposes that the Federal Reserve sell its gold reserves to invest in Bitcoin.

An ally of Donald Trump in the US Senate has a plan for filling up the president-elect’s proposed strategic Bitcoin stockpile without adding to the government deficit: Sell off some of the Federal Reserve’s gold. Republican Senator Cynthia Lummis of Wyoming plans to push forward with a bill to do exactly that when the new Congress is seated next year. The bill calls for the US to acquire 1 million Bitcoin, representing nearly 5% of the outstanding tokens. The purchases would cost about $90 billion at current market prices, though the sum would likely increase if the bill passes and investors front-run the government’s buying.

Trump's Ally Lummis Pushes to Sell Some of the Fed's Gold to Buy Bitcoin

Senator Cynthia Lummis proposes selling Federal Reserve gold to fund buying 1M Bitcoin, aiming to boost the US Bitcoin reserve without debt.

Republican Senator Cynthia Lummis of Wyoming is proposing a plan to sell part of the Federal Reserve's gold holdings to fund the purchase of one million Bitcoin for a national strategic reserve.

Cynthia Lummis, an ally of President-elect Donald Trump, introduced this concept as a way to increase federal Bitcoin holdings without adding to the national debt. This move comes amid Bitcoin’s recent price rally to an all-time high of $93,500 following Trump’s election win.
Cynthia Lummis Proposes Fed Gold Sale To Buy 1M Bitcoin
According to a Bloomberg report, Senator Lummis plans to introduce legislation to sell a portion of the Federal Reserve’s gold and use the proceeds to buy Bitcoin. Her bill, known as the BITCOIN Act (Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide), would authorize the acquisition of up to one million Bitcoin.

Cynthia Lummis estimates this would cost around $90 billion based on current prices, but the sum could rise if the market anticipates the government’s involvement. This move comes despite recent criticism by BTC critic Peter Schiff who has noted the reserve would be a bad idea for the US.

Despite that, Lummis believes that using existing gold reserves would allow the government to build a Bitcoin stockpile without increasing the national deficit.
“We already have the financial assets in the form of gold certificates to convert to Bitcoin,” Lummis said in an interview.
She noted that since the Federal Reserve’s gold holdings are valued at a statutory price far below their market value, there is sufficient gold to cover the purchase without risking financial stability.
Potential Obstacles and Skepticism Over Bitcoin’s Stability
Despite support from some pro-crypto lawmakers, Lummis’ proposal is expected to face challenges. The bill currently lacks co-sponsors, and there is widespread skepticism about Bitcoin’s volatility. Jennifer J. Schulp, director at the Cato Institute’s Center for Monetary and Financial Alternatives, commented on the risks involved, stating, 
“It’s still putting government money on the line, and Bitcoin has not shown itself to be a particularly stable asset.”
Crypto market analysts and some members of Congress also question the long-term viability of holding Bitcoin in a federal reserve. Billionaire Michael Novogratz, head of Galaxy Digital, expressed doubt about the likelihood of a national Bitcoin reserve. However, he suggested that if the U.S. does pursue such a plan, it could lead to a global race, with other nations potentially creating their own reserves.
Rising Support Among Pro-Crypto Lawmakers in Congress
Lummis’ proposal aligns with President-elect Trump’s recent endorsement of a federal Bitcoin reserve. Trump’s initial plan focused on holding Bitcoin assets seized by law enforcement, amounting to around 200,000 tokens. Lummis’ bill would expand this by purchasing an additional one million tokens, which she proposes the government would hold for a minimum of 20 years.

Concurrently, the upcoming Congress may be more receptive to crypto initiatives, with several pro-Bitcoin lawmakers expected to take office. The crypto industry spent around $135 million backing pro-crypto candidates in the 2024 election cycle, leading to what industry supporters hope will be the most crypto-friendly Congress to date.

Lummis’ proposal is not the only initiative seeking to establish a government-backed Bitcoin reserve. In Pennsylvania, Republican Representative Mike Cabell recently introduced a bill to permit the state treasury to invest up to 10% of its funds in Bitcoin.

Senator Cynthia Lummis Proposes Fed Gold Sale To Buy 1M Bitcoin

美国参议院中唐纳德·特朗普的盟友、怀俄明州的共和党参议员辛西娅·卢米斯计划提出一项法案，出售部分美联储的黄金，以便获得100万枚Bitcoin，这大约占流通中代币的5%。按照当前市场价格，这笔购买将花费约900亿美元。

特朗普的盟友卢米斯推动出售部分美联储的黄金以购买比特币

美國參議院中唐納德·特朗普的盟友、懷俄明州的共和黨參議員辛西婭·盧米斯計劃提出一項法案，出售部分美聯儲的黃金，以便獲得100萬枚Bitcoin，這大約佔流通中代幣的5%。按照當前市場價格，這筆購買將花費約900億美元。