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If the government holds seized bitcoin as opposed to selling it, that will tend to increase the price.
by usefulcat 2y ago
If the government holds seized bitcoin as opposed to selling it, that will tend to increase the price.
- _heimdall 2y agoI guess that's why, though the government would then have an incentive to seize as much as it can legally seize. It'd be one thing if the bitcoin was just thrown in a hole or destroyed. A strategic reserve is a financial asset though, the government will want to grow that fund to help fund pet projects while running a ridiculous deficit.
- usefulcat 2y agoThe government effectively prints money at will; it doesn't need bitcoin. This is an attempt by the current administration to curry favor with people who like bitcoin.
- _heimdall 2y agotoday the government prints money at will, that can change. They will be creating a new federal power with a strategic reserve, it will get abused eventually.
- kdmtctl 2y agoActually, this fund is THE money printer. Ever increasing in value, not directly usable but great for accounting. It can be used to balance real spending.