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100 sats \ 1 reply \ @ssaurel 3h \ on: Russian Central Bank Selling off Gold Reserve econ
If Russia is starting to sell the gold it has been hoarding for years, it's because it's truly on the brink of financial collapse and desperately needs cash to finance its war.
Otherwise, selling its gold for weak money would make no sense. The only plausible reason would have been to sell some of that gold to buy Bitcoin.
Once you understand the "why" of Bitcoin and what Bitcoin actually is, there's no reason to panic. This is a normal part of any free market like Bitcoin.
Patience always makes a difference. Adopt a long-term perspective and disregard the low-money price of BTC.
If you let your emotions dictate your Bitcoin strategy, you'll be lost.
You need to understand the "why" of Bitcoin and strive to adopt a long-term perspective. Then you'll be able to implement an effective strategy based on your conviction, without ever letting your emotions take over.
Financial giants like BlackRock and Michael J. Saylor would have you believe that Bitcoin is simply a digital gold, a system of value integrated into the current system.
This is clearly a trap we must avoid.
Bitcoin is much more than that. Bitcoin is, first and foremost, an alternative to the fiat system. We must continue to fight so that the Bitcoin revolution can reach its full potential.
The idea is brilliant, but as always in France with these kinds of ideas that could pull the country out of its current dire situation in the future, you can be sure it won't be adopted.
It's tragic.
The real question is: why is America still limiting itself to accumulating Bitcoin through seizures rather than following a real Bitcoin accumulation program as was advertised?