69 sats \ 6 replies \ @expatriotic 17 Mar \ on: Why Does El Salvador Hold $86M of Gold? bitcoin
We're crazy, we go all in on this magical internet money. Responsible people/nations hedge. Plus countries are not individuals.
write
preview
0 sats \ 5 replies \ @kr OP 17 Mar
doesn’t the “diversification” argument fall flat when you’re diversifying with the asset that Bitcoin is going to eat?
reply
0 sats \ 4 replies \ @expatriotic 17 Mar
For us yes
reply
0 sats \ 3 replies \ @kr OP 17 Mar
why would this be different at the scale of a nation?
bitcoin eating gold is going to happen to the exact same extent whether your treasury is $500 or $500 million
reply
79 sats \ 2 replies \ @expatriotic 17 Mar
Different in the sense that we can make unilateral decisions quite easily. Whereas nation states often have to humor people with conflicting ideologies... At any rate he's not adding to it though...
reply
21 sats \ 1 reply \ @kr OP 17 Mar
It seems like Bukele has a lot of agency to make his own decisions, one might argue he has even more agency than most CEOs of public companies or investment funds
reply
0 sats \ 0 replies \ @expatriotic 17 Mar
Interesting, I'm not up on politics of my own country, let alone that of other countries
reply