- Gold reserves will not be sufficient to resolve the US debt drawback.
- U.S. gold reserves elevated by roughly $629.1 billion.
- Senator Cynthia Lummis has formally launched the Bitcoin Technique Preparation Act.
Bloomberg analysis analyst James Seifert means that the present worth of the U.S. gold reserves gained't have a big influence on the nation's debt state of affairs, however he believes they may very well be used to fund Bitcoin purchases if Congress passes Senator Lummis' Bitcoin Reserve Act.
Seifert highlighted one side of the invoice during which the senator referred to the U.S. authorities's gold reserves. The main points are that the U.S. presently values gold at $42.22 per ounce, as set by a 1973 regulation. Nevertheless, the present market value of gold is $2,447 per ounce, a giant distinction.
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