Re: Would it be good for bitcoin if the government is buying?
I think the real question is, will the government actually buy Bitcoin aggressively?
They might treat it as a reserve, but that’s probably just a move to fight inflation. I don’t think they’ll go all in.
Governments usually profit more when they invest in things they control. Bitcoin’s a different story as nobody controls it, and its price is unpredictable. That kind of risk isn’t something governments like to gamble on. So, no need to worry as there’s still room for all of us to invest and hope for a bright future, like $1 million per Bitcoin… or even higher.
Governments are cumbersome and even institutional investors are less cumbersome than governments, they both are less flexible than their citizens and small investors. When it comes to a time of main stream adoption with governmental purchases bitcoin proactively, no longer from seized bitcoins, small investors already bought bitcoin for a much long time before and if they can beat challenge of holding bitcoin, they will get a lot of benefit from main stream adoption in future.They might treat it as a reserve, but that’s probably just a move to fight inflation. I don’t think they’ll go all in.
Governments usually profit more when they invest in things they control. Bitcoin’s a different story as nobody controls it, and its price is unpredictable. That kind of risk isn’t something governments like to gamble on. So, no need to worry as there’s still room for all of us to invest and hope for a bright future, like $1 million per Bitcoin… or even higher.
I think that time will come with us, I only don't know when but I am aware of what I should do to be richer: DCA bitcoin, stack more satoshis, hold them and wait for that era comes.