Regardless of how the US gets into Bitcoin either by selling Gold or printing more
$'s the fact is if they do it at all it will be massive. The GS will be seen as leading the
way and IMO there will be more countries looking to follow what the GS do.
If you are looking for the price of Bitcoin to go up this will be big trigger.
If you are worried that the actions of governments and institutions will push
the price further up and affecting the amount of Bitcoin ordinary people
can afford to buy you wont want the US government getting into it.
its a double edged sword.
Topic: USA converting gold reserves into bitcoins - page 2. (Read 557 times)
So they figured out the easiest way to hit their 1 million Bitcoin target, by dipping into their gold reserves. That’s straight from the senator's statement.
https://cointelegraph.com/news/senator-lummis-says-treasury-should-convert-gold-bitcoin-reserve
For anyone wondering how the US could pull this off, converting gold reserves into Bitcoin seems like a no-brainer. It’s a smart play, diversifying their reserves while potentially becoming the largest Bitcoin holder in the world. If they actually do this, they’d dominate crypto reserves, which is a massive flex on a global scale.
https://cointelegraph.com/news/senator-lummis-says-treasury-should-convert-gold-bitcoin-reserve
Quote
Senator Lummis' Bitcoin strategic reserve initiative includes provisions to acquire 5% of the total Bitcoin supply — 1 million BTC — to be held for 20 years. As mentioned earlier, this ambitious goal would cost approximately $90 billion at current market prices.
For anyone wondering how the US could pull this off, converting gold reserves into Bitcoin seems like a no-brainer. It’s a smart play, diversifying their reserves while potentially becoming the largest Bitcoin holder in the world. If they actually do this, they’d dominate crypto reserves, which is a massive flex on a global scale.
Doubting the capacity of Government is something I won't do ,they're the one in charge and runs the affairs of Government and each Government has what is in his agenda to fulfill, I think at some point there's no need to doubt, you just have to watch things to unfold, who knows what the reset and new world order is gonna be, yes Gold has been the traditional reserve asset, but does it mean that if the Government found an asset that can outperform gold that things can't switch, and since the Government likes control, dont you think they may think the way to control it is to try to own the largest share.
So they figured out the easiest way to hit their 1 million Bitcoin target, by dipping into their gold reserves. That’s straight from the senator's statement.
https://cointelegraph.com/news/senator-lummis-says-treasury-should-convert-gold-bitcoin-reserve
For anyone wondering how the US could pull this off, converting gold reserves into Bitcoin seems like a no-brainer. It’s a smart play, diversifying their reserves while potentially becoming the largest Bitcoin holder in the world. If they actually do this, they’d dominate crypto reserves, which is a massive flex on a global scale.
That would be a bad move, gold has been valuable for thousands of years and it will remain valuable for a long time as well, which makes it the best asset possible to have as reserves, getting rid of it when other countries are hoarding it really does not make the most sense, and this is especially true when it comes to governments, which can just increase the speed of their money printing machines and buy all the bitcoin they want with it. https://cointelegraph.com/news/senator-lummis-says-treasury-should-convert-gold-bitcoin-reserve
Quote
Senator Lummis' Bitcoin strategic reserve initiative includes provisions to acquire 5% of the total Bitcoin supply — 1 million BTC — to be held for 20 years. As mentioned earlier, this ambitious goal would cost approximately $90 billion at current market prices.
For anyone wondering how the US could pull this off, converting gold reserves into Bitcoin seems like a no-brainer. It’s a smart play, diversifying their reserves while potentially becoming the largest Bitcoin holder in the world. If they actually do this, they’d dominate crypto reserves, which is a massive flex on a global scale.
For anyone wondering how the US could pull this off, converting gold reserves into Bitcoin seems like a no-brainer. It’s a smart play, diversifying their reserves while potentially becoming the largest Bitcoin holder in the world. If they actually do this, they’d dominate crypto reserves, which is a massive flex on a global scale.
I don't know how true this information is, but However it could be possible for them to convert the gold reserved to bitcoin reserve but it would be on Mutua l agreement. And Morover gold is also an asset so there is need for diversification of assets into different categories. I believe gold will be held as a reserve asset why they can still buy bitcoin seperatly as an online asset. if they chose to sell some portion of the gold to invest in bitcoin then fine by them. 
They will use the U.S. dollar to purchase BTC if they are going to go ahead with their plans of a BTC strategic reserve, i don't think they will convert their gold reserves into BTC. Gold is a stable store of value and i am sure the U.S. government trust it more than BTC that is very volatile, so they will rather be looking to increase their gold reserves, than converting some of it into BTC and in doing so reduce their reserves.
So they figured out the easiest way to hit their 1 million Bitcoin target, by dipping into their gold reserves. That’s straight from the senator's statement.
https://cointelegraph.com/news/senator-lummis-says-treasury-should-convert-gold-bitcoin-reserve
For anyone wondering how the US could pull this off, converting gold reserves into Bitcoin seems like a no-brainer. It’s a smart play, diversifying their reserves while potentially becoming the largest Bitcoin holder in the world. If they actually do this, they’d dominate crypto reserves, which is a massive flex on a global scale.
https://cointelegraph.com/news/senator-lummis-says-treasury-should-convert-gold-bitcoin-reserve
Quote
Senator Lummis' Bitcoin strategic reserve initiative includes provisions to acquire 5% of the total Bitcoin supply — 1 million BTC — to be held for 20 years. As mentioned earlier, this ambitious goal would cost approximately $90 billion at current market prices.
For anyone wondering how the US could pull this off, converting gold reserves into Bitcoin seems like a no-brainer. It’s a smart play, diversifying their reserves while potentially becoming the largest Bitcoin holder in the world. If they actually do this, they’d dominate crypto reserves, which is a massive flex on a global scale.
I am sure this statement is his personal and not official. It's more like a suggestion about what he feels about American government should do. I am sure that American government wouldn't spend 90 billion to accomplish it. If they ever decide to own a great percentage of Bitcoin supply, they will do it by confiscating from various companies under false charge of money laundering. Trump alone can't/won't make decisions on such kind of purchases.
It's great that powerful people are showing great confidence on Bitcoin. But it's far from reality to be honest!
The USA holds the largest gold reserve in the world, totaling 8,133.46 tons, which converts to about $677 billion in value. If they were to allocate just $90 billion at the current Bitcoin price to buy 1 million BTC, they’d still remain the top gold holder and become the largest Bitcoin holder as well. That’s an insane double dominance in two major asset classes.
Here’s a quick list of the top gold holders as reserves (ranked by tonnage):
https://www.investopedia.com/ask/answers/040715/what-countries-have-largest-gold-reserves.asp
Here’s a quick list of the top gold holders as reserves (ranked by tonnage):
https://www.investopedia.com/ask/answers/040715/what-countries-have-largest-gold-reserves.asp
Quote
United States 8,133.46 tons of gold
Germany 3,351.53 tons of gold
Italy 2,451.84 tons of gold.
France 2,436.97 tons
Russian Federation 2,335.85 tons.
Germany 3,351.53 tons of gold
Italy 2,451.84 tons of gold.
France 2,436.97 tons
Russian Federation 2,335.85 tons.
Exchanging 90 billion worth of gold to the Bitcoin is a very smart idea. This is because Bitcoin potentially to reach 1 million value in the future. It's very important to note that if this time people can even afford to sell their house to invest in bitcoin.
Let's say they diversified 90 billion worth of gold to the bitcoin, then they hold it till 1 BTC worth 1 million USD. They will be in 10x profit.
It's very important to note that there are less than 2.3 millions of BTC in the exchange sites now.
I used to be skeptical of Trump's idea of making bitcoin a US reserve asset but with this idea it clearly becomes much more realistic. The United States is almost always at the top of the list in every field, not only having the world's largest gold reserves but also the world's largest oil reserves...So it's no surprise that they're also at the forefront of creating the cryptocurrency demand trend and have more bitcoin in their national reserves than any other country.
Another thing we need to know is that Republicans controlled both the Senate and the House in this year's elections, and that means if Trump sticks with this idea, it will be much easier to pass. So this idea is becoming more and more realistic than we think.
https://www.dw.com/en/us-republicans-win-house-control-both-houses-of-congress/a-70773778
Let's keep our optimism to see bitcoin to be adopted as a strategic reserve.
This time, the bill is still in committee review. We'll know the results after it reaches senate vote.
Highly doubt it. US will not make a bold move such as sacrificing their gold reserve in exchange for FOMO investment on Bitcoin. They should done this before not now when many big player is already loaded and setup.
This is too risky considering how volatile the Bitcoin price while many big investors might use their liquidity to exit their big holdings since themarlet can absorb already big sell once they enter.
They have unlimited fiat. Just like what is doing, they can purchased Bitcoin using their money printer.
This is too risky considering how volatile the Bitcoin price while many big investors might use their liquidity to exit their big holdings since themarlet can absorb already big sell once they enter.
They have unlimited fiat. Just like what is doing, they can purchased Bitcoin using their money printer.
So they figured out the easiest way to hit their 1 million Bitcoin target, by dipping into their gold reserves. That’s straight from the senator's statement.
https://cointelegraph.com/news/senator-lummis-says-treasury-should-convert-gold-bitcoin-reserve
For anyone wondering how the US could pull this off, converting gold reserves into Bitcoin seems like a no-brainer. It’s a smart play, diversifying their reserves while potentially becoming the largest Bitcoin holder in the world. If they actually do this, they’d dominate crypto reserves, which is a massive flex on a global scale.
The initiative of one senator doesn't mean that this initiative will be accepted and the US will convert gold reserves into bitcoin.https://cointelegraph.com/news/senator-lummis-says-treasury-should-convert-gold-bitcoin-reserve
Quote
Senator Lummis' Bitcoin strategic reserve initiative includes provisions to acquire 5% of the total Bitcoin supply — 1 million BTC — to be held for 20 years. As mentioned earlier, this ambitious goal would cost approximately $90 billion at current market prices.
For anyone wondering how the US could pull this off, converting gold reserves into Bitcoin seems like a no-brainer. It’s a smart play, diversifying their reserves while potentially becoming the largest Bitcoin holder in the world. If they actually do this, they’d dominate crypto reserves, which is a massive flex on a global scale.
To be honest, it seems strange to me that they are converting one asset into another. Wouldn't it be easier to just print some green paper and buy btc with it?
It would be cheaper.How can such a conversion technically take place? There is no direct exchange of gold bars for bitcoin. The Americans are not going to take gold out of Fort Knox by the trainload, sell it (try to find a buyer) and buy bitcoin with the proceeds. It seems to me that the US will not touch the gold reserves, but will get bitcoin in another way. One option is to confiscate it from its citizens (there was a similar story with gold in the past), setting a limit on personal ownership.
How do you like that?
I guess before making bitcoin a national reserve currency, they will try to completely dominate the crypto market so they can easily manipulate it in their favor.
The only way they can achieve that is by accumulating 1 million Bitcoins, giving them control of about 5% of the total supply, making them the top Bitcoin holder. If this is for their national reserve, it’s clear that the intent would be to HODL, not to manipulate the market.Manipulating the market would completely go against the principles of good governance. It’s not just unethical, it’s illegal, and don't forget, they even charged Binance for market manipulation, so for them to do it themselves wouldn’t make any sense. It would contradict everything they claim to stand for. If anything, this move seems more about securing a strong position in a valuable asset rather than trying to influence prices.
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So they figured out the easiest way to hit their 1 million Bitcoin target, by dipping into their gold reserves. That’s straight from the senator's statement.
https://cointelegraph.com/news/senator-lummis-says-treasury-should-convert-gold-bitcoin-reserve
For anyone wondering how the US could pull this off, converting gold reserves into Bitcoin seems like a no-brainer. It’s a smart play, diversifying their reserves while potentially becoming the largest Bitcoin holder in the world. If they actually do this, they’d dominate crypto reserves, which is a massive flex on a global scale.
US government holding 5 percent of the total supply of bitcoin which equals to 1 million bitcoin is actually very large, but does not make them the largest holders of bitcoin in the world, remember that Satoshi nakamoto's bitcoin wallet address contains over 1 million bitcoins, and there is every possibility that this funds can still be accessed. So which such a large holding, Satoshi nakamoto still will remain the largest holder of bitcoin except the US government decides to buy and hold much more bitcoins than just 1 million, which I know they are capable.https://cointelegraph.com/news/senator-lummis-says-treasury-should-convert-gold-bitcoin-reserve
Quote
Senator Lummis' Bitcoin strategic reserve initiative includes provisions to acquire 5% of the total Bitcoin supply — 1 million BTC — to be held for 20 years. As mentioned earlier, this ambitious goal would cost approximately $90 billion at current market prices.
For anyone wondering how the US could pull this off, converting gold reserves into Bitcoin seems like a no-brainer. It’s a smart play, diversifying their reserves while potentially becoming the largest Bitcoin holder in the world. If they actually do this, they’d dominate crypto reserves, which is a massive flex on a global scale.
But again on the other hand, I might be wrong as regards to Satoshi's bitcoin holdings, what I said here is based on my personal research as of 1 going to 2 years ago, I don't know if anything have changed since then, I will try to find out if anything have changed since the last time I did this research, will do this when I have the time.
It would be best if they could collect or buy bitcoins, because success can only be achieved by holding bitcoins. Because the price of gold has only increased by a few percent per year, but the price of Bitcoin has increased the most every year. In 2024, the price of Bitcoin was close to $40,000 at the beginning, and now the price of Bitcoin has touched $93.4K. Then you notice of course that it is possible to gain five to seven times more in Bitcoin than the price of gold, so the biggest gains from holding Bitcoin alone are through long-term holdings.
Governments hold gold because they need the stability of gold to ensure that if the economy becomes unstable or in trouble, they can use gold to save the economy. They don't hold gold for investment or speculation, so I don't think the US government is proposing this for the purpose of investing in bitcoin and making a profit.
Have you ever thought what would happen if bitcoin price doesn't increase like you said and bitcoin gets dumped due to some unexpected event? What do you think the government will do next? Don't tell me that scenario can't happen, anything can happen and we have seen bitcoin price drop 70-80% in value many times in the past. I wonder how the government will deal with this problem?
I guess before making bitcoin a national reserve currency, they will try to completely dominate the crypto market so they can easily manipulate it in their favor.
For anyone wondering how the US could pull this off, converting gold reserves into Bitcoin seems like a no-brainer. It’s a smart play, diversifying their reserves while potentially becoming the largest Bitcoin holder in the world. If they actually do this, they’d dominate crypto reserves, which is a massive flex on a global scale.
US itself has also played several promotional terms on bitcoin adoption which has twisted a lot of peoples mind to reliably adopt the use of bitcoin.
We can see how obvious the US government and the wealthiest entrepreneurs like Elon Musk and others has so much pushed forward to a valuable persistent of bitcoin up to date.
So it would be a slack of the US government if they don't foresee the potentials of bitcoin to be equal to the tasks of their financial and economy reserve.
However, the tendencies of the US government available to purchase that sum of 1million of bitcoins would not only make them them the largest country holding bitcoin. They already holds over 212,847 of bitcoins which has already got them the highest holders while the anticipation of them buying 1millions of bitcoin is ideal to increase their portfolio on bitcoin while realized that the volatile liquidity of bitcoin would give them more values than that of gold in same specific period of 20 years.
For anyone wondering how the US could pull this off, converting gold reserves into Bitcoin seems like a no-brainer. It’s a smart play, diversifying their reserves while potentially becoming the largest Bitcoin holder in the world. If they actually do this, they’d dominate crypto reserves, which is a massive flex on a global scale.
The US doesn't need to dispose of its gold reserve to buy Bitcoin. There is a need to keep diversifying their economy. They should just stop selling the seized Bitcoin at their disposal and could set out funds from other sources to buy Bitcoin.While the US gold reserves are valued at about $675 billion market rate, enough to buy more than 1 million BTC, I think such a move would disturb the gold market, sparking price declines and subsequent ripple effects on the economy. As far as I know the Bitcoin Act containing this proposal still has no cosponsors, and increased anxiety over Bitcoin's volatility raises yet another layer of skepticism from lawmakers and analysts. Even crypto optimists like Michael Novogratz are skeptical of the US taking up the move anytime soon.
Volatility shouldn't be a problem since they will be investing for a long time. The sponsors of the bill should be able to convince other lawmakers that the four-year circle of Bitcoin is certain. El Salvador and Bhutan are in profit and the US can also take advantage of the benefits Bitcoin offers. The problem is that there are so many Bitcoin critics and haters in the legislative arm, the bill might not get the required votes to become law. 
I am sure that they will always have a lot of money from taxes, they are already spending trillions every year, just military spends 1+ trillion, so 90 billion would be nothing to them but the problem is that they can't buy it all for 90 billion, the moment they start to buy, the price will end up getting higher and higher, and that would be the most important part and would have been a good deal for the long term without a doubt.
The plan to accumulate means they’ll likely set a buying schedule, whether it’s monthly, quarterly, or yearly. Of course, they could also opt for a one-time bulk buy if they’re confident enough. Either way, if Bitcoin pumps, it works in their favor, as the value of their Bitcoin reserve will increase significantly.If they’re aggressively aiming for 1 million Bitcoin, it does raise an interesting question: does this mean they no longer see Bitcoin as the high-risk investment they once described it to be? It feels like their mindset is shifting, maybe they now view Bitcoin as a more stable or strategic reserve asset rather than just a speculative gamble.
It would be best if they could collect or buy bitcoins, because success can only be achieved by holding bitcoins. Because the price of gold has only increased by a few percent per year, but the price of Bitcoin has increased the most every year. In 2024, the price of Bitcoin was close to $40,000 at the beginning, and now the price of Bitcoin has touched $93.4K. Then you notice of course that it is possible to gain five to seven times more in Bitcoin than the price of gold, so the biggest gains from holding Bitcoin alone are through long-term holdings.
I would guess that if they ended up buying it all together, it would not be all that much of a big trouble. First of all, they do not need to buy a full million, they already have a lot of bitcoins as they seized bunch of them, and considering all the situation they are in, we shouldn't really consider this to be a big deal at all, we need to consider this as a better deal.I am sure that they will always have a lot of money from taxes, they are already spending trillions every year, just military spends 1+ trillion, so 90 billion would be nothing to them but the problem is that they can't buy it all for 90 billion, the moment they start to buy, the price will end up getting higher and higher, and that would be the most important part and would have been a good deal for the long term without a doubt.
While the US gold reserves are valued at about $675 billion market rate, enough to buy more than 1 million BTC, I think such a move would disturb the gold market, sparking price declines and subsequent ripple effects on the economy. As far as I know the Bitcoin Act containing this proposal still has no cosponsors, and increased anxiety over Bitcoin's volatility raises yet another layer of skepticism from lawmakers and analysts. Even crypto optimists like Michael Novogratz are skeptical of the US taking up the move anytime soon.
https://www.cryptopolitan.com/senator-lummis-proposes-swapping-federal-reserves-gold-for-bitcoin-reserves/
Political and logistical barriers make the above-mentioned plan highly improbable. An ultimate sale of gold in such a large amount is definitely risky, while the purchase of Bitcoin would highly increase its price, hence costs. At any rate, Trump's approach is far more cautious, considering holding onto the seized Bitcoins, not making major new buys. The plan could lead to making the US's reserves even more diversified and reinforcing US crypto leadership, but when and how that could happen are very much in question.
https://www.cryptopolitan.com/senator-lummis-proposes-swapping-federal-reserves-gold-for-bitcoin-reserves/
Political and logistical barriers make the above-mentioned plan highly improbable. An ultimate sale of gold in such a large amount is definitely risky, while the purchase of Bitcoin would highly increase its price, hence costs. At any rate, Trump's approach is far more cautious, considering holding onto the seized Bitcoins, not making major new buys. The plan could lead to making the US's reserves even more diversified and reinforcing US crypto leadership, but when and how that could happen are very much in question.
They are called reserves for a reason, but I do think as time goes on, they (govs guys) will see more pros in it. And imagine this news - "US becomes one of the biggest holders of BTC with its reserves reaching X". The prestige and the hype around news like this, of course, would cause the market to grow crazy.
The USA holds the largest gold reserve in the world, totaling 8,133.46 tons, which converts to about $677 billion in value. If they were to allocate just $90 billion at the current Bitcoin price to buy 1 million BTC, they’d still remain the top gold holder and become the largest Bitcoin holder as well. That’s an insane double dominance in two major asset classes.
Here’s a quick list of the top gold holders as reserves (ranked by tonnage):
https://www.investopedia.com/ask/answers/040715/what-countries-have-largest-gold-reserves.asp
Here’s a quick list of the top gold holders as reserves (ranked by tonnage):
https://www.investopedia.com/ask/answers/040715/what-countries-have-largest-gold-reserves.asp
Quote
United States 8,133.46 tons of gold
Germany 3,351.53 tons of gold
Italy 2,451.84 tons of gold.
France 2,436.97 tons
Russian Federation 2,335.85 tons.
Germany 3,351.53 tons of gold
Italy 2,451.84 tons of gold.
France 2,436.97 tons
Russian Federation 2,335.85 tons.
I used to be skeptical of Trump's idea of making bitcoin a US reserve asset but with this idea it clearly becomes much more realistic. The United States is almost always at the top of the list in every field, not only having the world's largest gold reserves but also the world's largest oil reserves...So it's no surprise that they're also at the forefront of creating the cryptocurrency demand trend and have more bitcoin in their national reserves than any other country.
Another thing we need to know is that Republicans controlled both the Senate and the House in this year's elections, and that means if Trump sticks with this idea, it will be much easier to pass. So this idea is becoming more and more realistic than we think.
https://www.dw.com/en/us-republicans-win-house-control-both-houses-of-congress/a-70773778
For anyone wondering how the US could pull this off, converting gold reserves into Bitcoin seems like a no-brainer. It’s a smart play, diversifying their reserves while potentially becoming the largest Bitcoin holder in the world. If they actually do this, they’d dominate crypto reserves, which is a massive flex on a global scale.
They will never convert all their gold reserve to Bitcoin, never. They can convert part of it to bitcoin and that's all. As a Bitcoin investor, I would like to see the US. government to convert all their gold reserve to bitcoin, but I am realistic to know it won't happen.If they only keep confiscated bitcoin from criminal as their national reserve, I am happy with this move. If they do more, like convert part of their gold reserve to bitcoin, it's very big news for Bitcoin community and the market will react positively with this big move. In Bitcoin market, FOMO plays very important role to lift the price up to a new ATH and new higher level. We know after a ATH, price will be corrected a lot but the good news is a new higher level is set up.
Then we will have new Never Look Back Price band.
https://charts.bitbo.io/never-look-back-price/
While the US gold reserves are valued at about $675 billion market rate, enough to buy more than 1 million BTC, I think such a move would disturb the gold market, sparking price declines and subsequent ripple effects on the economy. As far as I know the Bitcoin Act containing this proposal still has no cosponsors, and increased anxiety over Bitcoin's volatility raises yet another layer of skepticism from lawmakers and analysts. Even crypto optimists like Michael Novogratz are skeptical of the US taking up the move anytime soon.
https://www.cryptopolitan.com/senator-lummis-proposes-swapping-federal-reserves-gold-for-bitcoin-reserves/
Political and logistical barriers make the above-mentioned plan highly improbable. An ultimate sale of gold in such a large amount is definitely risky, while the purchase of Bitcoin would highly increase its price, hence costs. At any rate, Trump's approach is far more cautious, considering holding onto the seized Bitcoins, not making major new buys. The plan could lead to making the US's reserves even more diversified and reinforcing US crypto leadership, but when and how that could happen are very much in question.
https://www.cryptopolitan.com/senator-lummis-proposes-swapping-federal-reserves-gold-for-bitcoin-reserves/
Political and logistical barriers make the above-mentioned plan highly improbable. An ultimate sale of gold in such a large amount is definitely risky, while the purchase of Bitcoin would highly increase its price, hence costs. At any rate, Trump's approach is far more cautious, considering holding onto the seized Bitcoins, not making major new buys. The plan could lead to making the US's reserves even more diversified and reinforcing US crypto leadership, but when and how that could happen are very much in question.
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