US government plans to acquire Bitcoin with a budget-neutral strategy, converting gold reserves

From Cointelegraph
March 07, 2025 02:59:31 PM:

US President Donald Trump’s executive order establishes a strategic Bitcoin reserve with a budget-neutral strategy to acquire more coins. The US government has strategic reserves including gold, petroleum, foreign currency, and more. The US Strategic Petroleum Reserve holds approximately 395 million barrels of crude oil valued at over $26.4 billion. The Treasury Department holds over 258.6 million troy ounces of gold worth over $10.9 billion.

Senator Cynthia Lummis introduced the Bitcoin Act to acquire 1 million BTC, suggesting converting some US gold reserves to Bitcoin. BTC is the US government’s largest digital asset at roughly $17.4 billion. White House adviser David Sacks calls Bitcoin digital gold and the new Bitcoin reserve “a digital Fort Knox.” Sacks highlights BTC’s unique store of value.

Read more at Cointelegraph: Budget-neutral strategies for US to acquire BTC