U.S. White House Considers Using Gold Reserves for Strategic Bitcoin Reserve Under Trump Administration

The U.S. White House is considering using the country's gold reserves to purchase Bitcoin, according to statements from White House officials. This move is seen as a potential strategy to increase the nation's Bitcoin reserves in a budget-neutral manner.

The proposal to use gold reserves for Bitcoin acquisition has been discussed by Bo Hines, the Executive Director of the President's Digital Asset Advisory Committee, who suggested that this could be a way to enhance the U.S. strategic Bitcoin reserve without additional fiscal outlay. The Trump administration is reportedly eyeing this approach, with Wyoming Senator Cynthia Lummis mentioned in connection to the initiative.

The consideration of this strategy comes amidst comments from various high-profile figures, including the Coinbase CEO, who anticipates that other G20 nations might follow the U.S. in establishing their own strategic Bitcoin reserves.

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