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US Federal Reserve gold sale for Bitcoin funding announced by mid-2025
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Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from the US Federal Reserve
Story
Senator Lummis Introduces S4912 'Bitcoin Act of 2024' to Create US Bitcoin Reserve, Reduce Debt by $16T
Nov 15, 2024, 06:06 AM
Senator Cynthia Lummis has officially introduced the 'Bitcoin Act of 2024' (S4912 bill) into the US Congress for a vote. The bill proposes the sale of Federal Reserve gold to fund the creation of a US strategic Bitcoin reserve. The plan aims to purchase up to 1 million Bitcoins over a five-year period, with a maximum acquisition of 200,000 Bitcoins per year. Michael Saylor supports the bill, suggesting it could reduce the US government debt by $16 trillion. The proposal argues that Bitcoin is a harder asset compared to gold.
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0% • 25%
1-25% • 25%
26-50% • 25%
51% or more • 25%
Shift some reserves to Bitcoin • 25%
No change in reserves • 25%
Increase gold reserves • 25%
Other decision • 25%
Approve and begin purchases • 25%
Approve but delay purchases • 25%
Reject the proposal • 25%
No decision made • 25%
