Trump allies propose selling 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)