TechFlow news — On March 7, according to The Block, Geoff Kendrick, head of digital asset research at Standard Chartered, proposed that the U.S. could sell part of its $760 billion gold reserves to purchase bitcoin, serving as a "budget-neutral" funding source for a newly established Strategic Bitcoin Reserve (SBR). This suggestion follows President Trump's executive order requiring the government to acquire bitcoin without increasing the burden on American taxpayers.
Kendrick stated in an email: "Theoretically, selling gold to buy bitcoin could constitute a budget-neutral strategy." He also suggested other potential funding sources, including using the Exchange Stabilization Fund (ESF), which holds $39 billion in net assets, and referencing Senator Cynthia Lummis's proposed Bitcoin Act of 2024, which recommends purchasing 200,000 bitcoins annually over five years.
