Key Points
- The US could potentially acquire over 1 million Bitcoin within five years by selling 15% of its gold reserves.
- US President Donald Trump is preparing for the White House Crypto Summit, focusing on establishing the US as the “crypto capital of the world”.
Matrixport, a blockchain firm based in Singapore, has made an interesting projection.
They believe that the United States could accumulate over 1 million Bitcoin (BTC) in the next five years.
This could be achieved by selling 15% of the country’s gold reserves.
Proposal to Fund the Reserve
According to a post by Matrixport, Senator Cynthia Lummis has proposed the sale of U.S. gold reserves to fund this initiative.
However, they warned that such an action could potentially cause increased volatility.
Senator Lummis’ BITCOIN Act suggests using the market value of gold, which is currently around $688 billion, to acquire 1 million BTC over five years.
This would involve selling gold at market prices and reallocating the proceeds.
White House Crypto Summit
Meanwhile, U.S. President Donald Trump is preparing for the White House Crypto Summit, slated for Friday, March 7.
This summit, the first of its kind to be hosted by the White House, is a key step in Trump’s push to establish the U.S. as the “crypto capital of the world”.
Trump’s vision includes a U.S. Strategic Cryptocurrency Reserve, which would focus on Bitcoin, Ethereum (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA).
Trump has already signed an executive order to create a Strategic Bitcoin Reserve.
The reserve will be funded with Bitcoin seized by the federal government through asset forfeiture, meaning taxpayers won’t bear any cost.
White House AI and Crypto Czar David Sacks noted that the U.S. government already holds around 200,000 BTC, though a full audit has never been conducted.
The executive order mandates a complete accounting of federal digital asset holdings and prohibits the sale of Bitcoin in the reserve, likening it to a “digital Fort Knox.”