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. Whatever good the free money you are getting from US taxpayers is can be reversed by an act of Congress as well. You are placing yourself at the mercy of Congress. If you are saying there will be no impact, then why bother doing it at all? If there is a big impact, then that impact can be correspondingly reversed.
Quote
Quote
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?Okay, how about AAPL? How about NVDA? How about soybean futures? How about any other thing US investors might want to invest in? Should the US government be in the business of speculating in the financial markets so specific investors in those things should benefit?
One thing is for sure: once the government invests in one thing, holders of those other assets are sure as heck going to lobby the government to prop up their investments too. That's just politics.
Quote
Quote
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?The US has gold--and has since the country began--because gold originally backed the US dollar. Now the gold the US owns isn't even 1% of the dollar and they stopped buying gold a century ago because there is no reason to.
Quote
Quote
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. So you actually want Big Government--but just for your favorite stuff and not anybody else's. Cool
.I guess that works as long as nobody else has the same idea about their favorite investment too...