CitizenHorizon on Nostr: They've already said that there were revaluing some of their gold reserve and use ...
They've already said that there were revaluing some of their gold reserve and use that liquidity to buy Bitcoin.
"Currently, the Federal Reserve values its gold holdings at $42.22 per troy ounce, a figure established decades ago. Given that the market price of gold is significantly higher—around $2,400 per ounce as of July 2024—revaluing these holdings could substantially increase their reported value. The plan suggests that the Federal Reserve banks would tender their existing gold certificates to the Treasury, which would then issue new certificates reflecting the fair market value. The difference in value would be remitted to the Treasury, providing funds for the Bitcoin acquisition program."
"Currently, the Federal Reserve values its gold holdings at $42.22 per troy ounce, a figure established decades ago. Given that the market price of gold is significantly higher—around $2,400 per ounce as of July 2024—revaluing these holdings could substantially increase their reported value. The plan suggests that the Federal Reserve banks would tender their existing gold certificates to the Treasury, which would then issue new certificates reflecting the fair market value. The difference in value would be remitted to the Treasury, providing funds for the Bitcoin acquisition program."