Post
Topic
Board Bitcoin Discussion
Re: What if the US Govt. buys circulating Bitcoin Supply and $ is backed by $BTC ?
by
btctaipei
on 23/11/2021, 16:15:05 UTC
Hillary Clinton is alarmed by the rise of BTC.

...
So, the US Govt. can easily print out $1 Trillion Dollars which is not really all that much when you compare it to gold and then capture the entire circulating supply and use it as a reserve.

Then they can pretty much make dollar reign in supreme again by backing $BTC to the dollar just like how they backed it to the gold standard in the past.

My point is we could see major Govt. could rush in and buy as much BTC as possible if it becomes mainstream. Major institutions are already starting to use BTC as a hedge. Only a matter of times before the really Big Boys will step in. This way the US could actually control the Global Financial System.

If USA rush to actually do this it would be horrible for BTC because it will cause huge surge in bitcoin on-chain transactions.  Any move by USA to actually adopt BTC as legal tender would most likely crush bitcoin network and likely be successfully to bring bitcoin network to an halt; unless all merchants in United States are require to run their own lightening node to accept payment; which obviously can be done by passing new infrastructure bill.