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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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[–] untakenusername@sh.itjust.works -1 points 14 hours ago

It's not as bad as it sounds imo, but its still not the best. Theoretically, if done correctly, this could work really well. Problem is the sheer amount of speculation the creation of the crypto reserve is gunna cause until its made, because Trump is gunna keep tweeting about it to mess with the price, like he did in early March. Ngl if a different president who didnt make such drastic changes in policy did this over the course of many years, it would probably be fine.