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Bill to create U.S. bitcoin reserve would finance it with gold revaluation
U.S. Strategic Bitcoin Reserve to Be Funded Partly by Revaluing Fed's Gold, Draft Bill Shows
By Bradley Keoun
CoinDesk, New York
Tuesday, July 30, 2024
U.S. Senator Cynthia Lummis' plan for a new Strategic Bitcoin Reserve would finance purchases of the cryptocurrency partly by revaluing gold certificates held by the Federal Reserve System, according to a draft of the legislation obtained by CoinDesk.
Lummis, a Wyoming Republican known for her Bitcoin-friendly policy stance, announced her intention to propose the reserve on Saturday at the Bitcoin Nashville conference. She came onstage just minutes after former U.S. President Donald Trump, the Republican nominee in this year's presidential race, delivered a speech on blockchain policy before the cheering room, filled to its 8,500-person capacity. ...
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