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.
Short version: No.
Long version: Nooooooo.
Yes, it’s going to make some people very rich.
Ohh, you mean to the country as a whole? No.
It lets those with bitcoins cash out and leaves the taxpayer holding their bags. That’s it.
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.
Just the rumor of it alone benefits HODLers, and Trump has HODLers who donated to his election campaign.
Nope, it’s just a pump.
“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.”
This is the way. It’s the only reason they’d do it.
I seriously doubt BRICS has anything to do with Bitcoin, but the US is absolutely concerned about losing the status of world currency. It’s literally how we survive while running a massive deficit. When the rest of the world finds a way to do business without the US getting its cut we’re going to be in deep shit.
That’s exactly what the plan is. They’re funneling themselves government money, but in a way that’s less traceable
It’s not “less traceable”, bitcoin is a public ledger, literally every transaction is documented on the blockchain for anyone and the IRS to see.
… Less traceable in that the price of the coin going up and them cashing out isn’t a direct line from the government coffers to their pocket.
I’m aware it’s a public ledger.
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?
