As Bitcoin's price approaches $100k, discussions in the U.S. arise about selling part of the FED's gold reserves to purchase BTC
Reducing U.S. debt with the help of Bitcoin
This year has been a period of transition for Bitcoin, with growing interest from traditional finance.
Following Donald Trump’s election as the new President of the United States, the U.S. government has also shown increased interest. In the past week, a proposal was introduced in Pennsylvania to include Bitcoin as an asset within the national reserve, equivalent to 10% of the total value, approximately $7 billion.
At the same time, Senator Cynthia Lummis of Wyoming presented a new proposal. It considers the idea of using profits from the Federal Reserve’s gold reserves to purchase Bitcoin without creating additional budget deficits.
The operation aims to acquire 1 million Bitcoin over the next 5 years, valued at more than $90 billion at current prices.
Bitcoin Nears $100k: A Store of Value?
As interest from governments, institutions, and large investment funds grows, Bitcoin's price aligns with this new narrative. Can Bitcoin now be considered a store of value?
For years, Bitcoin’s role has been debated. Over the past year, the market appears ready to view it as a store of value against fiat currencies.
This new narrative, supported by relentless buying and record volumes, has driven Bitcoin into price discovery, now less than 10% away from the critical psychological threshold of $100,000.
Let me know your opinion in the comments.
By Gue22 🚀⚡🌐