Cynthia Lummis proposes swapping part of U.S. gold reserves for Bitcoin
US Senator Cynthia Lummis has urged the Treasury Department to consider using part of the country’s gold reserves to purchase Bitcoin. The goal is to establish a strategic Bitcoin reserve that could strengthen the US financial position over the long term.
Under her proposal, the government could sell a portion of its gold holdings or revalue gold certificates at market prices and use the proceeds to gradually acquire up to 1 million BTC over five years. The United States holds the world largest gold reserves — about 8,133 metric tons — valued at roughly $1.3 trillion, Coinpedia reported.
Case for Bitcoin
Lummis argues that Bitcoin could serve as a modern store of value and help shield the economy from inflation. She also points to the appreciation of seized Bitcoin already held by the US government.According to Treasury Secretary Scott Bessent, digital assets confiscated in criminal cases have grown in value from about $500 million to more than $15 billion. The US government currently holds around 328,372 BTC worth over $22 billion.
Institutional demand remains strong
Despite trading well below its all-time high and falling as much as 45% from peak levels, Bitcoin continues to attract major institutional investors. BlackRock, Fidelity, Strategy and MARA Holdings are among firms that have expanded their exposure.At publication, Bitcoin was trading near $68,200 with a market capitalization above $1.3 trillion. The proposal to create a national reserve may intensify debate over Bitcoin role in global finance.
We previously wrote that Cynthia Lummis supports Bitcoin legislation.
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