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U.S. Senate Banking Committee Member, Tim Scott, says major Bitcoin and crypto bills will be passed by August as the U.S. considers selling some of its Gold Reserves to buy Bitcoin.
The United States Treasury claims to hold about 261 million troy ounces of gold, equivalent to 8133.46 metric tons, in its reserves. A new report by a Senior White House official has fueled market enthusiasm regarding Bitcoin’s future. According to the report circulating online, the US is considering selling some of its gold reserves to buy Bitcoin.
A part of the circulating report has the following details, giving insights into what looks like a bullish signal for the market.
Lately, Michael Saylor, Microstrategy’s Co-founder and Executive Chairman, has advised the U.S administration to sell its gold reserves and buy Bitcoin to “bankrupt” its enemies by dominating the world of reserve capital. In other cases, he calls it “buying the future”. As policies regarding digital assets become clearer, Bitcoin could see its value rise exponentially in 2025.
