Quote from: BlackHatCoiner on November 09, 2024, 05:37:57 PM

Quote from: legiteum on November 09, 2024, 04:20:45 PM

And allowing the US government to control the price of it will achieve that... how exactly?

How is it able to control the price by more than a rich billionaire like Saylor? There are already whales that can temporarily affect the price. I don't see what's different with the US government.

Um, the US government has more money than Michael Saylor? Like, several million times more? Is that a serious question?

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No, taxes dollars are used to... pay for stuff like people's retirement and the military. Why would the US buy anything if the intent was not to sell it at a profit later?

It will sell it, in the future. In the act, it writes:

Quote from: https://www.congress.gov/bill/118th-congress/senate-bill/4912/text

To ensure the long-term stability and security of the Strategic Bitcoin Reserve, the Secretary shall hold all Bitcoin acquired through the Bitcoin Purchase Program for not less than 20 years.

That's idiotic then: it's just a pure give away to Bitcoin holders. Why doesn't the government just loan my company some money for 20 years, too?

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You are basically asking for Washington DC to be able to dictate the price of Bitcoin.

Why am I asking that? Does Washington DC dictate the price of all assets it keeps as reserves? Does it dictate the price of gold?

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The US has gold (although not a lot of it) for legacy reasons. If they suddenly bought a bunch of gold then yes, that would control the price of gold.

As a Bitcoin maximalist I am finding it rather amazing you want the US government intimately involved in Bitcoin like this.