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Sell 600 Billion USD of Gold, Buy Bitcoin: Pantera CEO Calls on the US to 'Change the Anchor' of National Reserves
The debate over the balance sheet risk mitigation measures of the United States has intensified after Pantera Capital's CEO, Dan Morehead, stated on CNBC that the U.S. should shift from gold to "Digital Gold," arguing that the country is "Holding $600 Billion in Gold." He urged a transition to Bitcoin.
Buy Bitcoin Worth 600 Billion USD Morehead, a billionaire cryptocurrency investor, told CNBC that the United States holds about 600 billion USD in gold and should "shift to digital gold... Bitcoin." His comments align with subsequent articles in the cryptocurrency media regarding the interview. According to official central bank data, the United States holds 8,133.5 tons of gold - unchanged until the second quarter of 2025. The New Context of Bitcoin in the Policy Landscape of the United States This year, discussions about the federal "Bitcoin reserve" policy have shifted from a fringe topic to a mainstream one. The Financial Times reported in January 2025 on the debates in Washington surrounding a strategic BTC reserve and noted that the United States currently holds a large amount of seized Bitcoin - estimated to be worth tens of billions of USD. Bitcoin set a new record this summer, as the Financial Times reported a new all-time high of around 124,480 USD in early August 2025, driven by increased demand from institutions and more favorable policy signals from the United States. While Morehead supports rotation, no U.S. agency has announced plans to sell gold or buy Bitcoin at such a large scale. Why Gold Still Remains the Basic Level Gold remains the official reserve anchor worldwide. According to the World Gold Council's country rankings, the United States holds the largest gold reserves, with 8,133.5 tons. This amount of gold forms the foundation for the reserve structure, even as policymakers are considering access to digital assets. Morehead's message - "Gold out, BTC in" - is very clear, but it is still more about movement than policy. The verified facts today are: the United States holds 8,133.5 tons of gold; the market value of this reserve could reach hundreds of billions of dollars depending on trading value; and Washington has held billions of dollars of seized Bitcoin while considering broader cryptocurrency policy.