I know a lot of you criticizes the US Strategic Reserve
Sure, fair enough
But nevertheless this is an historic moment a lot of us dreamed of seeing one day because of game theory
Cheers and have a great Friday
Discussion
But it's illegal. The Executive Branch doesn't have the authority to establish such a fund. That's completely within the wheelhouse of Congress. I don't see how cheering an unlawful and practically absurd bitcoin fund is a good look for people who care about Bitcoin. And I don't think it's a good idea to be celebrated that the government is going to be in a position to manipulate the bitcoin market by virtue of their large holdings. I guess it raises Bitcoin's prominence, but that's the extent of the positive aspects of this boondoggle.
I don’t know shit about the legality of it. I expect people with more knowledge to respond on this
As the “governments will manipulate it” argument. What did you expect was going to happen? You want adoption but you don’t want certain actors to come in? Lots of manipulation will follow if you want to get to hyperbitcoinization. We used to say Bitcoin is resistant to that
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Non-strategoc Griftcoin Reserve