Trump Ally Proposal: Sell Some of the Fed's Gold, Buy 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)