The United States can acquire 1 million bitcoins in five years if authorities estimate the country’s 15% gold reserves, analysts.
According to new estimates from Singapore -based blockchain firm Matrixport, its 15% Gold Reserve may be able to acquire 1.05 million bitcoins (BTCs) over the next five years.
In One x post On 7 March, analysts stated that to fund the reserve, Senator Synthia Lummis has already proposed to sell American gold reserves, although they warned that such a step could potentially increase instability.
“Cinator Synthia Lummis’s Bitcoin Act has proposed to use a market value of about $ 688 billion, which exceeds its $ 11 billion book value to acquire 1 million BTCs in five years. This may involve selling gold at market prices and recovering income. ,
Matrixport
The move is set for US President Donald Trump White House Crypto Summit, which is scheduled for Friday, March 7. The summit, the first of its kind hosted by the White House, is seen as an important step in Trump’s push, to establish America as the “Crypto Rajdhani of the world”.
Trump’s point of view includes an American strategic cryptocurrency reserve, which will focus on bitcoin, atherium (Ath), XRP (XRP), Solan (Solna), and Cardano (ADA).
Trump has already signed an executive order to create a strategic bitcoin reserve. As Crypto.NuS had previously reported, the reserve will be funded with bitcoins seized by the federal government, meaning that taxpayers will not tolerate any cost.
White House AI and Crypto Caesar David Sachs said that the US government already holds around 200,000 BTCs, although a full audit has never been done. The Executive Order makes full accounting of federal digital asset holdings and bans the sale of bitcoins in the reserve, comparing it to “Digital Fort Knoc”.
