US selling 69K seized bitcoins could mess with Trump plans for crypto reserve
US selling 69K seized bitcoins could mess with Trump plans for crypto reserve
US could get about $6.4 billion from the sale at bitcoin’s current price.
Imagine a crypto reserve. Reserved for WHAT???
Reserved to inflate the price to make cryptobros more money.
This is probably the most succinct example of why rich weirdos and “libertarians” actually don’t hate the government and taxation and instead love it, to make them more money using the unwasheds’ taxes.
What else would a giant organization exist for?
Reserved for the memes.
Same idea as a gold reserve, which we also have.
Reserved for getting money when it's needed.
Edit: idk, I'm wrong then
There was a gold standard. Current fiat money in the US is based on an imaginary "base" that the Federal Reserve (itself, an institution notoriously based on an imaginary base). There is a reserve of gold, but it no longer matches the amount of minted coins/printed bills.
Edit: reserve->standard as noted in a reply
Reserved for the plot of James Bond movies
It's almost certainly like Musk having Tesla buying up crypto, that almost certainly isn't going to be used to do shady things.
..though Tesla continues to hold around 10,000 bitcoin worth around $1 billion on its balance sheet.
Earlier this year, Trump floated the idea he could use bitcoin to "pay off our $35 trillion—hand them a little crypto check, right? We'll hand them a little bitcoin and wipe out our $35 trillion," he said.
In July, Trump promised to create a "strategic national bitcoin reserve" and predicted bitcoin could eclipse gold's $16 trillion market capitalization during an appearance at the Bitcoin 2024 conference.
Earlier this month, Trump confirmed he plans to create a U.S. bitcoin reserve.