US Could Sell Its Gold To Set Up Potential Bitcoin Reserve, Says Bernstein: Will It Ignite A ‘Global Race’ To Buy BTC?

The cryptocurrency task force constituted under President Donald Trump is setting its sights on creating a national Bitcoin (CRYPTO: BTC) reserve, according to a Monday research report by brokerage firm Bernstein.

What Happened: The establishment of such a stockpile could ignite a “global race” among nations to acquire Bitcoin as a reserve asset, CoinDesk reported, citing the Bernstein analyst note.

The analysis pondered over the question of who between the Federal Reserve and the Treasury Department would carry out the potential purchases. If it falls under the Federal Reserve’s purview, legislative approval would be necessary.

Bernstein considered the Federal Reserve’s options for financing these purchases, including …

Full story available on Benzinga.com