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White House Says Gold Reserves May Be Used to Purchase Bitcoin (finance.yahoo.com)

submitted 1 week ago by geneva_convenience@lemmy.ml to c/nottheonion@lemmy.ml

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A senior White House official has hinted at the possibility of the U.S. utilizing its gold reserves to acquire more Bitcoin (CRYPTO: BTC).

"If we actually realize the gains on the U.S. gold holdings, that would be a budget-neutral way to acquire more bitcoin," Hines said adding that there's been "countless ideas" and the “best ideas" will be enacted by President Donald Trump.

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[–] humanspiral@lemmy.ca 0 points 1 week ago

This is a good idea as Bitcoin is a better gold than gold, with lower market cap today, because it is relatively underowned by national reserves. Gold's value is central bank driven. 17% of all historical mining held there. $3.7T. Nations that lead the trend in adopting bitcoin as a national reserve will not only gain huge profits from ldeadership, and a bitcoin price that grows another 10x, it will also impoverish nations who are slower, as value of gold drops.

There is a massive insider trading possibility for those who know it will be policy, through.