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?
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:
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?
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.