Re: Trump’s call for a bitcoin strategic reserve is a very bad idea
Come on we all know he doesn't care about Bitcoin he only does this to get more voters 
Harris is doing the same thing. Democrats don't like cryptocurrencies, yet she accepts donations through Coinbase...
At least he is openly pro-bitcoin while the Democrats are pretty much ignoring everything about bitcoin but want to accept donations in crypto through a crypto company. That proves they are many times more sinister and unreliable than Trump.
You guys are turning the thread into a what if he's lying and what if he's selfish discussion. Let's talk about economy.
It's not such a bad idea because it's not about turning bitcoin into another dollar. Making it a strategic reserve doesn't mean using it to pay at stores. Gold is a strategic reserve, but you don't pay for a taxi with it, right?
Owning a hard, appreciating asset allows you to decrease your debt and that's what they're trying to do because it's getting out of control. The more countries hold it as reserve the more stable it becomes. You buy it, it gains value and stability, whatever you held before appreciates, your debt (on paper) decreases, you can print more money because it's now backed by a hard asset, you can use that money to buy more hard assets.
It's not such a bad idea because it's not about turning bitcoin into another dollar. Making it a strategic reserve doesn't mean using it to pay at stores. Gold is a strategic reserve, but you don't pay for a taxi with it, right?
Owning a hard, appreciating asset allows you to decrease your debt and that's what they're trying to do because it's getting out of control. The more countries hold it as reserve the more stable it becomes. You buy it, it gains value and stability, whatever you held before appreciates, your debt (on paper) decreases, you can print more money because it's now backed by a hard asset, you can use that money to buy more hard assets.
To be fair, I don't deny that the idea is great and I'm pretty sure that if passed, it will be a powerful catalyst for the growth of bitcoin and the entire cryptocurrency industry. But the problem is that I think making this idea a reality will be a huge challenge and not something that can be done easily. That may be why many people think this is a bad idea.