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As already mentioned by another, there is a proposal for a US strategic bitcoin reserve. It has bipartisan support. <https://bitcoinist.com/bitcoin-reserve-legi

by TMWNN 2y ago

As already mentioned by another, there is a proposal for a US strategic bitcoin reserve. It has bipartisan support. <https://bitcoinist.com/bitcoin-reserve-legislation-gain-bipartisan-support/ https://bitcoinist.com/bitcoin-reserve-legislation-gain-bipa...>

yieldcrv 2y ago
I’m aware, that bill is going to expire in 30 days so its irrelevant and will have to be reintroduced next year. the President-Elect is interested too and campaigned on the same premise what I’m talking about is far more expansive than 1 country’s national government instructing 1 agency to do it In talking about several agencies across every sovereign and subdivision thereof. all municipalities doing the same. the sovereign credit market being leveraged to buy bitcoin continuously, just like we’re seeing the beginning of in the corporate credit market. in case anyone wants to think about where this is really going and what that means for bitcoin’s scarcity
- m3kw9 2y ago
  Govt become exit liquidity, they won’t be exit liquidity I’m sure
  - yieldcrv 2y ago
    That’s… reductive. Government isnt either an amorphous entity when referring to a single one, and isnt an amorphous concept when referring to many For the people that sell bitcoin, sovereign institutions will be amongst the exit liquidity the sovereign's problem is that nobody, or less people, will want to be exit liquidity for their fiat its fine that your patriotic indoctrination makes that an absurd concept to imagine about a government you respect, but there are also governments you dont respect and where this has already occurred, and that's going to continue occurring as they all compete for exit liquidity of their fiat
tdb7893 2y ago
Buying one million when only ~20 million are in circulation is shocking, to put it mildly. It would be 5% of global supply just owned by the US government. Assuming prices didn't go up much after they started buying it would be 100 billion dollars worth
- yieldcrv 2y ago
  A single US corporation is already on the path to doing that But yes I believe the liquidity will dry up as entities with short time horizons will have stopped selling Of course, most of those entities and people have a number, it will just be a much higher price of bitcoin The game is to frontrun the Feds. And nobody in the federal government cares as it will just be instructed to do so by the President and Congress
- TMWNN 2y ago
  > Buying one million when only ~20 million are in circulation is shocking, to put it mildly. It would be 5% of global supply just owned by the US government. 5% would be completely consistent with the US's share of the world gold reserves. <https://www.gold.org/goldhub/data/gold-reserves-by-country https://www.gold.org/goldhub/data/gold-reserves-by-country>

by TMWNN 2y ago

yieldcrv 2y ago

I’m aware, that bill is going to expire in 30 days so its irrelevant and will have to be reintroduced next year. the President-Elect is interested too and campaigned on the same premise what I’m talking about is far more expansive than 1 country’s national government instructing 1 agency to do it In talking about several agencies across every sovereign and subdivision thereof. all municipalities doing the same. the sovereign credit market being leveraged to buy bitcoin continuously, just like we’re seeing the beginning of in the corporate credit market. in case anyone wants to think about where this is really going and what that means for bitcoin’s scarcity

m3kw9 2y ago
Govt become exit liquidity, they won’t be exit liquidity I’m sure
- yieldcrv 2y ago
  That’s… reductive. Government isnt either an amorphous entity when referring to a single one, and isnt an amorphous concept when referring to many For the people that sell bitcoin, sovereign institutions will be amongst the exit liquidity the sovereign's problem is that nobody, or less people, will want to be exit liquidity for their fiat its fine that your patriotic indoctrination makes that an absurd concept to imagine about a government you respect, but there are also governments you dont respect and where this has already occurred, and that's going to continue occurring as they all compete for exit liquidity of their fiat

tdb7893 2y ago

Buying one million when only ~20 million are in circulation is shocking, to put it mildly. It would be 5% of global supply just owned by the US government. Assuming prices didn't go up much after they started buying it would be 100 billion dollars worth

yieldcrv 2y ago
A single US corporation is already on the path to doing that But yes I believe the liquidity will dry up as entities with short time horizons will have stopped selling Of course, most of those entities and people have a number, it will just be a much higher price of bitcoin The game is to frontrun the Feds. And nobody in the federal government cares as it will just be instructed to do so by the President and Congress
TMWNN 2y ago
> Buying one million when only ~20 million are in circulation is shocking, to put it mildly. It would be 5% of global supply just owned by the US government. 5% would be completely consistent with the US's share of the world gold reserves. <https://www.gold.org/goldhub/data/gold-reserves-by-country https://www.gold.org/goldhub/data/gold-reserves-by-country>