The United States plans to raise funds to build a strategic Bitcoin reserve by revaluing gold

A draft legislation proposed by U.S. Senator Cynthia Lummis shows that the new strategic Bitcoin reserve will be financed in part by revaluing the Federal Reserve's gold. The plan is to purchase up to 200,000 Bitcoins per year for five years, totaling 1 million Bitcoins. These Bitcoins will be held for at least 20 years and mainly used to repay federal debts. The draft also proposes to establish a decentralized network of secure Bitcoin storage facilities across the United States. In addition, the plan includes setting aside $6 billion from the Federal Reserve's net earnings from fiscal years 2025 to 2029 and reducing the Federal Reserve Bank's own funds to $2.4 billion. Revaluing the Federal Reserve Bank's gold certificates is also planned to reflect their fair market value. The current market value of the Federal Reserve's gold holdings is approximately $11 billion, with a market price of approximately $2,400 per ounce.