Chris Hayes broke down a plan by Republican legislators to transfer billions of dollars of taxpayer money to owners of Bitcoin in exchange for their holdings.
It’s definitely a flash point issue, but I do see some merits to this:
Over it’s 15 years in existence, it’s a fact that one Bitcoin has gone from pennies per Bitcoin to over $100,000 per Bitcoin. That’s a 60% ARR, the highest asset return in history. Despite it’s often negative connotation, it makes perfect sense to adopt and hold as a digital asset - the supply is fixed and can never be increased (no debasement), scarcity is built in (halving), the price is the price (no discounts, coupons, or special rules for the ultra wealthy, governments, or other special interests), and it’s agnostic (no risk if any particular gov’t falls, etc). It will only continue to increase in value, as ETFs are now a sanctioned and regulated investment in the US and other places. With sovereign nations beginning to openly discuss its inclusion into portfolios, it feels like worldwide perception is beginning to shift toward use a legal asset at a minimum and a worldwide reserve currency at a maximum.
It’s a “get-in-while-you-can” play, pure and simple. The US should definitely hold onto what it already currently has (~200,000 Bitcoin) as a reserve at a minimum.
It’s definitely a flash point issue, but I do see some merits to this:
Over it’s 15 years in existence, it’s a fact that one Bitcoin has gone from pennies per Bitcoin to over $100,000 per Bitcoin. That’s a 60% ARR, the highest asset return in history. Despite it’s often negative connotation, it makes perfect sense to adopt and hold as a digital asset - the supply is fixed and can never be increased (no debasement), scarcity is built in (halving), the price is the price (no discounts, coupons, or special rules for the ultra wealthy, governments, or other special interests), and it’s agnostic (no risk if any particular gov’t falls, etc). It will only continue to increase in value, as ETFs are now a sanctioned and regulated investment in the US and other places. With sovereign nations beginning to openly discuss its inclusion into portfolios, it feels like worldwide perception is beginning to shift toward use a legal asset at a minimum and a worldwide reserve currency at a maximum.
It’s a “get-in-while-you-can” play, pure and simple. The US should definitely hold onto what it already currently has (~200,000 Bitcoin) as a reserve at a minimum.