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Standard Chartered Bank: The United States can establish Bitcoin reserves by selling gold and using treasury funds

2025-03-10 10:14

According to Decrypt, Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, has proposed that the US government can purchase Bitcoin in several budget neutral ways while implementing President Trump's latest executive order. Kendrick elaborated on these strategies, pointing out that they will avoid imposing additional costs on American taxpayers, a practice that Trump had already banned when he established the strategic Bitcoin reserve on Thursday. Kendrick wrote in a research report last Friday that the Trump administration could do so by "selling gold," using the US Treasury Department's so-called Exchange Stabilization Fund (ERF), or incorporating budget neutrality plans into Senator Cynthia Lummis' 2024 Bitcoin Act. According to the World Gold Council, the US government currently holds 8133.46 tons of gold reserves. Based on current prices, this batch of gold is worth approximately 758 billion US dollars.

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