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54 sats \ 5 replies \ @grayruby 18 Jul 2024
Source: trust me bro.
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63 sats \ 4 replies \ @SimpleStacker 18 Jul 2024
I believe it, though. Not that I think Trump particularly cares, but he knows this is the kind of thing that appeals to bitcoiners and he's trying to win votes.
And it kinda makes sense, anyway. IMO any country would be smart to buy bitcoin when the price is still low, on the very real possibility that it becomes the globally accepted monetary asset. Relative to the size of U.S. fiscal spending, any investment in bitcoin right now would be a drop in the bucket. The tricky part is managing keys and custody. I have no idea how I'd trust the government to do that properly.
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174 sats \ 1 reply \ @02bcd3eeb0 18 Jul 2024
The US gov already controls 1% of all bitcoin - that they got for free. Compare that to US gold reserves which are <2% of all gold, I'd say are already completely on track.
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33 sats \ 0 replies \ @02bcd3eeb0 19 Jul 2024
Correction: <4% of all mined gold
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20 sats \ 0 replies \ @987654321 18 Jul 2024
In the 1980s that's where the slave trade, and cocaine ran with MKULTRA so it makes sense.
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13 sats \ 0 replies \ @grayruby 18 Jul 2024
Agreed. The country already has bitcoin from confiscations they could just transfer it from the justice department to the treasury.
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113 sats \ 2 replies \ @petertodd 18 Jul 2024
He hasn't even been elected yet; don't get your hopes up.
Remember that the chance of Trump getting elected is certainly not 100%. For starters, the next guy might not miss...
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10 sats \ 1 reply \ @Bell_curve 18 Jul 2024
Or he could get covid
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13 sats \ 0 replies \ @02bcd3eeb0 18 Jul 2024
"He caught covid…" [as USSS agent slips cyanide into his drink]
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13 sats \ 0 replies \ @OT 18 Jul 2024
The confiscated BTC fund
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13 sats \ 1 reply \ @freetx 18 Jul 2024
Having a non-debt asset that inflates forever on the balance sheet of Central Banks makes lots of accounting sense.
In fact, that was supposed to be the role of Gold, however the shortsighted law 31 USC § 5116-5117 set the price of gold at $42.2222 statutorily -- thus Gold held on the Feds balance sheet never changes price, so never acts as a meaningful positive asset against inflation.
This law was put in place by well-meaning, but shortsighted congressmen who were trying to limit the Feds ability to print. It never worked and like all "price controls" has forever distorted the market.
Eventually, the accountants and finance specialist within the govt will realize that they can have a "do over", but this time using Bitcoin.
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21 sats \ 0 replies \ @Bell_curve 18 Jul 2024
The problem with gold standard is fixed exchange rates
Bitcoin and or full reserve banking
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