The most hilarious dip I've ever seen.
USA officially adopts Bitcoin strategy
People decide to *checks notes* sell it
Discussion
Sources tell me that everyone is wearing clown makeup.
Some people.
Anarchists feel dirty with government approved cash.
Powerful people want cheap Bitcoin. Blows my mind people are selling
āWait for itā¦. wait for itā¦. waaaaitā¦. But the dip!ā š
Maybe It was priced in
Investors were expecting an SBR with ongoing buys but instead, they just got an SBR. Itās like going into McDonaldās and ordering a Royale with Cheese and they end up giving you just a plain Royale. Sure, a Royale is worth something, but youāre not going to pay as much for it without the cheese.
They got an SBR with a directive to buy more
My understanding is that the ābuy moreā must be done in a revenue neutral way. I guess Trump could try to sell gold and use the proceeds to buy BTC. But will he? Without congressional approval? Itās certainly possible but by no means a slam dunk. Maybe thereās some kind of US-owned stranded energy source he could use for mining, but that would take years to spin up and isnāt revenue neutral in the short-term.
I guess one bit of good news is that the seized Bitcoin heās using to fund the SBR wonāt be dumped on the open market. Thatās a win.
Sell gold? Nah. All they need to do is mark it to the market price on their books to unlock 800 billion in budget neutral buying power.
how is it a win that the open market won't be able to buy those 200k coins?
Wait, did you expect to be able to?
no.
but i didnt expect bitcoiners to celebrate it as a win either.
Really? They started capitulating and you think it's a loss?
wut?
who is capitulating?
Bruh. The government went from trying to shut down Bitcoin companies to admitting that they need bitcoin in 2 years.
That's capitulation
cool
i don't care what the government thinks.
They care about you though, which for most people makes that last statement of yours a risky choice
I think it's the institutions that dominate the market right now. They want to create as much panic as possible. I'm starting to think more and more that the entry into this market of these institutional whales has broken the cycles of āæ and now they do what they want with the price! They will never have the protocol in their hands. But the price yes!
