I can’t think of any. The current oil reserve is supposed to be used in the case of another oil embargo. But its actual use is to lower gas prices when the administration in power needs a political win.
I actually think the purpose of a Bitcoin reserve is to temporarily increase the price so tech-bros (re: Elon) can sell at a massive profit. Then buy back at a much lower price. It’s just a way to indirectly transfer federal dollars into administration pockets.
I can’t find any reason for the government to buy crypto and hold it in reserve.
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Yes, it’s going to make some people very rich.
Ohh, you mean to the country as a whole? No.
The only real benefit I can see would be to have the ability to suddenly crash the market on demand. This might be an interesting way to temporarily disrupt states trying to evade sanctions with crypto, but probably not a great investment on the $ to impact scale.
Nope, it’s just a pump.
I would bet it’s a way to send money to Russia.
Why not both?
Well it’s using one to do the other, so yes
Short version: No.
Long version: Nooooooo.
Polite answer: No.
Impolite answer: Fuck no!
The idealism Bitcoin was allegedly created on is long dead.
2010: We can have a currency that the government can’t manipulate!
2024:…
Does the US government control Bitcoin? Can it create new Bitcoins?
Are bad faith questions asked in bad faith?
they can pump the price by buying it
They can do so for gold as well.
Sure. I think you’re missing the point that it was once sold as something the government can’t manipulate or trace. It is more traceable than practically any other currency (besides maybe your credit card) and governments are getting involved. Nothing else was sold on the idea bitcoin was sold on.
It lets those with bitcoins cash out and leaves the taxpayer holding their bags. That’s it.
Just the rumor of it alone benefits HODLers, and Trump has HODLers who donated to his election campaign.
This vice article gets into some technical reasons why, although appearances can, and often do, operate independently of incentive and benefit.
No, Please tell me it’s not in Elon playbook ?
US money is incredibly strong, so US$ is way more interesting.
15 years after it’s creation the bitcoin failed to meet the expectation of being a usable money or even “way to pay”
It can’t process 1/100th of what visa does in a day, let alone the other card processors on top of it
It is the same reason why the USA still holds gold and silver even through they aren’t pegged to the dollar, it is an asset class which could be useful in the future.
You can make that argument in 5000 years. As of today, it’s still equivalent to MtG cards.
So what you’re saying is we need a strategic MtG card reserve.
A lot of countries keep a reserve of Euros, which is a fiat currency not tied to a single country and only came into being about 25 years ago.
Currency is like Tinkerbell, it only lives through belief in it. Right now, enough people believe in Bitcoin being a currency and that belief doesn’t seem to be going away as long as the Internet still exists.
Considering that the US Mint can literally print money, I can’t think of any reason either. I guess it won’t affect inflation as much, but still mass selling it will increase the money supply available to the government.
I don’t think there is a good reason for anyone to buy Bitcoin, let alone the US government.
The worst part about this is the thick as shit stupid tony countries who will have their citizens robbed even worse by their own small thick shitty governments. This is the age of fucking stupidity
yeah you got it. I mean maybe in some alternate universe where energy overabundance is a real problem and we have to figure out how to get rid of excess because it causes explosions or something. then it would make sense.
Dunno, just make sure your stop-loss orders are set so you don’t get burned when the dip comes.
