Standard Chartered Bank: The United States can establish Bitcoin reserves by selling gold and using treasury funds
News on March 10, according to Decrypt, Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, suggested that the US government could purchase Bitcoin in several budget-neutral ways while implementing President Trump's latest executive order. Kendrick elaborated on these strategies, pointing out that they would avoid bringing "additional costs to American taxpayers," a practice which Trump had already prohibited when establishing strategic Bitcoin reserves last week. In his research report last Friday, Kendrick wrote that the Trump administration could do this by "selling gold", using the so-called Exchange Stabilization Fund (ESF) of the U.S. Treasury Department or incorporating budget-neutral plans into Senator Cynthia Lummis' proposed 2024 "Bitcoin Act". According to data from the World Gold Council, the US government currently holds 8133.46 tons of gold reserves. At current prices, this batch of gold is worth about $758 billion.
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