Let’s get one thing out of the way – The United States Already holds more bitcoin than any other government in the world.
While this data is true, you wouldn’t exactly know this from the obscene amounts of FOMO being generated by industry lobbyists on social media.
On X, BTC Inc The following are some of the most effective ways to increase your ROI: David Bailey. has been pushing for an Executive Order By: President Donald Trump This would be implemented on the first day. Satoshi Action Fund The Founders Dennis Porter Has been stoking enthusiasm at the state level, promising to get states active before the federal government in an act of patriotic forerunning.
Look, I’m into the Strategic Bitcoin Reserve. YesThe United States Needs a long term plan for the Dollar, one which finds it (in most cases) giving up its position as a global currency of reserve.
YesThe U.S. needs to actively boost the Bitcoin Market and industry But, this sky-is-falling approach just couldn’t be more at odds with all reason.
There No other governments are buying BitcoinNeither has any (publicly) announced plans to. The Next largest state holder Bitcoin The word “apparent” is a misnomer. ChinaThe official ban on its use has been issued by.
Of The countries that are actively purchasing Bitcoin with intent – Bhutan The Bitcoin has just under 10,000 BTC. El Salvador The price of bitcoin is still stuck at 6,000 BTC. Neither We are going to buy more Bitcoin than the U.S. government already has – nor does either have a widely popular money printer.
Full stop – even if the U.S. government didn’t buy Bitcoin For a decade its stockpile will be large. Sure, you may argue that it’s about sending a message, about showing leadership in the world, but there are many ways this can be done without blowing political capital.
Is a Strategic Reserve What could be more important to our industry than a regulation that actually eases barriers? That Will it empower businesses to increase the sovereign use currency?
Let’s not forget the horrible taxation laws that make bitcoin holders think twice before using bitcoin for purchases..
All This is to say: Strategic Bitcoin Reserve advocates shouldn’t overplay their hand – a lot can be gained just by getting the U.S. government to stop selling the Bitcoin It already has and there are probably bigger gains or worse laws that can be eliminated.
Would It would be great if the U.S. Government started buying Bitcoin? Surely. The industry has political capital to cash in, but let’s use it to spread Bitcoin Adoption is more than just a bag pump.
This Article is a Take. Opinions expressed are entirely the authThe following are some examples of how to use's and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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