Um, the US government has more money than Michael Saylor? Like, several million times more? Is that a serious question?
In the act, they're planning to buy something around a million bitcoin. That's around four times Microstrategy's holdings. Enormous amount, but still, we've experienced these massive buys before.
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?
Because your company does not lack counterparty risk? Because your company is whatever legiteum decides? Because infinite reasons?
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.
This precisely started, more or less, in the past, during the early 20th century. How do you think that has gone with gold so far?
As a Bitcoin maximalist I am finding it rather amazing you want the US government intimately involved in Bitcoin like this.
Bitcoin is for everyone. If governments continue to confiscate property, as they often do, then at least let it be reserved in Bitcoin. I don't want governments intervening in our lives as much as they currently do, but regardless of my anarcho-capitalist ideals, I also have to ground my expectations in what's feasible. The reality is that government influence isn't going anywhere. So, if they must hold reserves, it might as well be in the best form of money available.
Printing money for the express purpose of buying Bitcoin would be one of the most chad moves the Federal Reserve could possibly make. They're gonna suck & be hated for whatever they do, so why not buy some BTC at least?
I'd bet it has crossed their minds, but the truth is they don't have to print anything. The people who own the Fed can already empty all the exchanges with a click of a button. Maybe they're buying in secret. (After all, their wealth was built by successfully hiding it, for centuries.)