A popular Indian crypto influencer claimed that the US government may sell billions worth of Gold to acquire Bitcoin, on behalf of a recent analysis by the Standard Chartered analyst.
Summary
- Standard Chartered analyst claims the US government will sell $800 billion in gold to buy Bitcoin.
- If the US government follows this speculation, Bitcoin’s price could surge by 50%.
As we know, recently, US President Donald Trump has already signed an executive order for the Bitcoin Strategic Reserve (BSR). But the key thing that raised eyebrows about BSR is the zero budget to acquire Bitcoin. BSR does not involve allocating new budgetary funds for Bitcoin acquisitions. Instead, the reserve will be primarily funded through Bitcoin seized in criminal and civil forfeiture proceedings.
On 10 March 2025, Kashif Raza, a popular Indian crypto influencer who has expertise in Indian laws, claimed that the US government may sell $800 billion worth of Gold reserves to acquire Bitcoin.
This is really a very big claim, as $800 billion worth of money inflow in the Bitcoin market will push the Bitcoin bull sentiments to the next level & also help to increase the trade price upto 50%.
Binance’s former CEO Changpeng Zhao (CZ) responded to this tweet and asked people to check whether this claim could be true or just part of speculation.
Standard Chartered on Bitcoin Strategic Reserve (BSR)
Actually, this speculation originates after an analysis by Standard Chartered.
Geoff Kendrick, the bank’s global head of digital assets research, suggested that to fund the newly established Strategic Bitcoin Reserve without burdening taxpayers, the U.S. could consider selling portions of its substantial gold holdings. This proposal aligns with President Donald Trump’s executive order, which mandates budget-neutral strategies for acquiring Bitcoin.
Kendrick backed his claim with a reference to legislative frameworks like Senator Cynthia Lummis’s BITCOIN Act of 2024.
Here, the Bitcoinik.com readers need to know that the original document where the analysis shared by Standard Chartered analyst isn’t available online but discussed in various financial media outlets.
Loss for Trump’s WLFI With Price Downfall in the Market
After Friday’s White House Crypto Summit, the crypto market faced a significant downfall. Many investors called the crypto summit crypto sell news, as no big crypto-related events are coming soon.
Following the White House Crypto Summit, the trade price of Bitcoin crashed by nearly 7%, from $90k to $83k.
The current trade price of Ethereum ($ETH), the second top-ranked Cryptocurrency, is $2,123. This price level of the $ETH coin is 9.87% down over the last 7-day period.
Because of the price downfall in the crypto market, the portfolio of Donald Trump’s WLFI has reached $110 million. The 9 digital assets acquired with its $336 million funds are now worth nearly $226 million. ETH trade price crashed nearly 65% from the buy price.
Read also: World-Famous Bitcoin Critic Peter Schiff Has Become a Bitcoiner Officially!
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