Standard Chartered’s digital asset research head, Geoff Kendrick, has proposed a strategy to fund the US Strategic Bitcoin Reserve without increasing the country’s budget. One effective way, according to him, is to sell some of the US gold reserves, currently valued at around USD 760 billion, to buy Bitcoin.
This idea could be a strategy that does not burden the national budget, Kendrick said, as quoted from Coinmarketcap on Monday (10/3/2025). His proposal comes after President Donald Trump issued an executive order establishing the SBR and Digital Asset Reserve. The order specifies that any Bitcoin purchases for reserves must not add financial burden to taxpayers, and all government-owned Bitcoin must be stored in the SBR without the option to sell.
In addition to selling gold, Kendrick also suggested some other options to fund the SBR. One of them is to leverage the Exchange Stabilization Fund (ESF), a fund typically used to stabilize financial markets and has assets worth USD 39 billion. Kendrick believes the ESF could be used to buy Bitcoin without increasing the national budget burden. Another alternative is to adopt the Bitcoin Act of 2024 proposed by Senator Cynthia Lummis. This bill aims to allocate 200,000 BTC each year for five years, which Kendrick believes can be managed well without disrupting the country’s finances.
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