On March 10, Decrypt reported that Geoff Kendrick, global head of digital asset research at Standard Chartered, proposed that the U.S. government could purchase Bitcoin in several budget-neutral ways when implementing President Trump's latest executive order. Kendrick elaborated on the strategies, noting that they would avoid "additional costs to U.S. taxpayers," a practice that Trump banned on Thursday when he established a strategic bitcoin reserve. Kendrick wrote in a research note on Friday that the Trump administration could "sell gold," use the Treasury Department's so-called Exchange Rate Stability Fund (ERF), or incorporate a budget-neutral plan into the 2024 Bitcoin Act proposed by Senator Cynthia Lummis. According to the World Gold Council, the U.S. government currently holds 8,133.46 tons of gold reserves. At current prices, the gold is worth approximately US$758 billion.