{"id":380541,"date":"2025-03-09T14:36:08","date_gmt":"2025-03-09T09:06:08","guid":{"rendered":"https:\/\/dripp.zone\/news\/us-could-sell-gold-tap-treasury-funds-to-build-bitcoin-reserve-standard-chartered-crypto-news\/"},"modified":"2025-03-09T14:59:19","modified_gmt":"2025-03-09T09:29:19","slug":"us-could-sell-gold-tap-treasury-funds-to-build-bitcoin-reserve-standard-chartered-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/us-could-sell-gold-tap-treasury-funds-to-build-bitcoin-reserve-standard-chartered-crypto-news\/","title":{"rendered":"US Could Sell Gold, Tap Treasury Funds to Build Bitcoin Reserve: Standard Chartered – Crypto News"},"content":{"rendered":"
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A Standard Chartered analyst posited that the U.S. government could purchase Bitcoin<\/a> through several budget-neutral ways while carrying out President Donald Trump\u2019s latest executive order<\/a>.<\/p>\n

As detailed by Geoff Kendrick, global head of digital assets research at the UK bank, the strategies would avoid \u201cincremental costs on United States taxpayers\u201d that are prohibited<\/a> under Trump\u2019s establishment of a strategic Bitcoin reserve on Thursday.<\/p>\n

The Trump administration could either \u201csell gold,\u201d tap the Treasury Department\u2019s so-called Exchange Stabilization Fund (ERF), or work a budget-neutral plan into Sen. Cynthia Lummis\u2019 (R-WY) BITCOIN Act of 2024, Kendrick wrote in a Friday research note.<\/p>\n

The U.S. government currently holds 8,133.46 tons of gold in reserve. At current prices, that trove is worth approximately $758 billion, according to data from the World Gold Council<\/a>.<\/p>\n

Trump\u2019s newly signed initiative directs Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick to \u201cdevelop strategies\u201d for acquiring Bitcoin. That suggests their respective agencies could ultimately determine the administration\u2019s tactics.<\/p>\n

The Treasury’s ERF, which currently holds $39 billion in net assets, is normally used for exchange market intervention. Kendrick said that acquiring Bitcoin with the funds \u201cwould be a clear change of direction\u201d from influencing the U.S. dollar\u2019s exchange rate against foreign currencies.<\/p>\n

Meanwhile, Lummis\u2019 BITCOIN Act<\/a> is still in play.<\/p>\n

The legislation was formally introduced<\/a> in August and, if passed, would direct the U.S. Treasury to purchase 1,000,000 Bitcoin over a five-year span. Kendrick noted that it may be possible to pass Lummis\u2019 bill in a budget-neutral manner as part of a bigger package.<\/p>\n

Lummis\u2019 bill prohibits the sale of the $17.8 billion worth of Bitcoin that the government already has<\/a>, according to Arkham Intelligence<\/a>, because of criminal or civil asset forfeiture proceedings. Trump\u2019s recently signed executive order also blocks the feds from selling its 198,100 BTC stash.<\/p>\n

Trump first called<\/a> for the creation of a strategic Bitcoin reserve on the campaign trail. And his executive order on Thursday established both a Bitcoin reserve and digital asset stockpile, which will contain seized digital assets that the Treasury is authorized to sell.<\/p>\n

Trump\u2019s directive does not say that the government is allowed to acquire digital assets for its non-Bitcoin stockpile using funds, even if that\u2019s carried out in a budget neutral manner.<\/p>\n

Earlier this week, White House Crypto and AI Czar David Sacks hinted<\/a> at the administration\u2019s renewed focus on Bitcoin. It followed Trump\u2019s call for a \u201cstrategic crypto stockpile\u201d on Sunday including Bitcoin, Ethereum<\/a>, Solana<\/a>, XRP<\/a>, and Cardano<\/a> (ADA).<\/p>\n

Sacks said that the U.S. had so far lost out on $17 billion in value by selling seized Bitcoin, while pointing out that the government could just hold onto the coins instead.<\/p>\n

Edited by Stacy Elliott<\/a>.<\/i><\/p>\n

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<\/p>\n

Daily Debrief Newsletter<\/h3>\n

Start every day with the top news stories right now, plus original features, a podcast, videos and more.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A Standard Chartered analyst posited that the U.S. government could purchase Bitcoin through several budget-neutral ways while carrying out President Donald Trump\u2019s latest executive order. As detailed by Geoff Kendrick, global head of digital assets research at the UK bank, the strategies would avoid \u201cincremental costs on United States taxpayers\u201d that are prohibited under Trump\u2019s […]<\/p>\n","protected":false},"author":2,"featured_media":380547,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-380541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/380541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=380541"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/380541\/revisions"}],"predecessor-version":[{"id":380548,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/380541\/revisions\/380548"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/380547"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=380541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=380541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=380541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}