Reserve Dollar

Gold

Reserve

<ul class="news-points">
 <li><strong>Gold reserves insufficient to resolve U.S. debt issues.</strong></li>
 <li><strong>U.S. gold reserves reflect a gain of about $629.1 billion.</strong></li>
 <li><strong>Senator Cynthia Lummis has officially introduced the Bitcoin Strategic Reserve Bill.</strong></li>
</ul>
<p>Bloomberg research analyst James Seyffart suggests that the current value of the U.S. gold reserve would not significantly impact the nation’s debt situation. However, he believes it could fund the purchase of Bitcoin, assuming Congress passes the Senator Lummis Bitcoin Reserve Bill.</p>
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   <p lang="en" dir="ltr">Interesting tidbit in <a href="https://twitter.com/SenLummis?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@SenLummis</a>'s <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> Reserve Bill. Currently the US government's gold reserves are held/valued at $42.22 per ounce "42 &amp; two-ninths", as set by a 1973 law. I think this would force the gov to recognize the current gold market value of $2,447 per ounce <a href="https://t.co/01jhJlDvBR" target="_blank" rel="noopener noreferrer nofollow">https://t.co/01jhJlDvBR</a> <a href="https://t.co/9TJRlu9osn" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/9TJRlu9osn</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1818779247999434800?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 31, 2024</a>
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<p>Seyffart highlighted an aspect of the bill where the senator referenced the U.S. government’s gold reserve value. The details show that the U.S. currently values its gold at $42.22 per ounce, as set by a 1973 law. However, the current market price of gold is $2,447 per ounce, presenting a significant difference.</p>
<p>In…</p>
<p>The post <a href="https://coinedition.com/u-s-gold-could-fund-bitcoin-buy-says-analyst-lummis-bill-in-focus/" rel="noopener noreferrer nofollow">U.S. Gold Could Fund Bitcoin Buy, Says Analyst: Lummis Bill in Focus</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

U.S. Gold Could Fund Bitcoin Buy, Says Analyst: Lummis Bill in Focus

Coin Edition

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