A Standard Chartered analyst posited that the U.S. government could purchase Bitcoin through several budget-neutral ways while carrying out President Donald Trump’s latest executive order.
As detailed by Geoff Kendrick, global head of digital assets research at the UK bank, the strategies would avoid “incremental costs on United States taxpayers” that are prohibited under Trump’s establishment of a strategic Bitcoin reserve on Thursday.
The Trump administration could either “sell gold,” tap the Treasury Department’s so-called Exchange Stabilization Fund (ERF), or work a budget-neutral plan into Sen. Cynthia Lummis’ (R-WY) BITCOIN Act of 2024, Kendrick wrote in a Friday research note.
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.
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