It's literally just a pilfering of the American public to enrich crypto holders.
If you have a lot of something, and you can get the government to buy a lot of it, that's very good for you.
Bitcoin at this point is probably running out of retail rubes to buy it to keep the price going and the tether ponzi will eventually break if there isn't new money flowing into the system. Getting the government to buy and hold it would be an amazing coup and let current holders of bitcoin profit handsomely at the expense of the rest of society.
It makes no sense in terms of economics, foreign policy, monetary policy, etc. But it makes a ton of sense in terms of "How can I extract the maximum amount of wealth from the public using my political power".
Comments
It's literally just a pilfering of the American public to enrich crypto holders.
If you have a lot of something, and you can get the government to buy a lot of it, that's very good for you.
Bitcoin at this point is probably running out of retail rubes to buy it to keep the price going and the tether ponzi will eventually break if there isn't new money flowing into the system. Getting the government to buy and hold it would be an amazing coup and let current holders of bitcoin profit handsomely at the expense of the rest of society.
It makes no sense in terms of economics, foreign policy, monetary policy, etc. But it makes a ton of sense in terms of "How can I extract the maximum amount of wealth from the public using my political power".
Yeah, guess why JD Vance is VP: https://www.npr.org/2024/07/17/g-s1-11654/five-things-to-kno...