If the Fed monetized new gold certificates at today's current troy ounce value, and the treasury used those funds to buy BTC or whatever else, they would be mechanically increasing broad money supply by that amount as the treasury spent those reserves into the banking system. It would be an inflationary act to buy a deflationary (in supply) asset that the Fed says only 10% of Americans have exposure to. But 100% of Americans would be exposed to the expansion of the money supply to the tune of hundreds of billions. They can call it budget neutral because there would not be new debt issuance, but it would carry the hidden tax of inflationary pressures for seemingly little to no benefit at all.(𝐓𝐗𝐌𝐂)