I don't think the US gov will be able to buy 1 million #bitcoin , even if they pass the bill and try.
They'll have to choose - steal it from the ETFs ;
Or sell their stolen land for btc.
Discussion
They'll have to buy secretly first before announcing
Tbh I think that's why corporations are doing it - some, at least. Idk what their plan looks like exactly, but I don't think they're creative geniuses... Its right there in the companies, so I bet they take it somehow
I dunno, it seems doable.
They already have much of the Silk Road coins, I believe. I’ve seen estimates around 200K+.
And then they could totally 6102, framing it as a matter of national security… especially with Putin’s latest remarks.
Then there’s the interesting angle that, if they print to buy, the price goes up due to more coin being locked up AND monetary debasement. Being first in line at the printer (and the Cantillon Effect remaining as relevant as ever), they’d be good. Owning the coin might even negate the credit issues that stem from debasement.
And then I wonder if they couldn’t use printing + slippage to arbitrage a bunch of the interest on their debts.
Ironically, it could even bolster the usage of the dollar amidst Eurodollar nations.
There’s a lot of games these assholes could play.
I saw something recently regarding activity with those coins being moved to Coinbase. Speculation is that the Biden admin might be preparing to sell. Would be appropriate given the track record of the lame duck.
It wouldn't surprise me if they sell it all before Biden leaves. I hope they don't... But they seem to have the same mentality as the Nazis losing ww2 - knowing they lost, they accelerated their genocide, even diverting resources from the war to do as much destruction as possible. Very socialist mindset.
I hope they do. That would give plebs more sats per federal reserve note. Bitcoin will always move to the strongest hodlers.
Conquered, not stolen. Humans have been having wars over land as long as there have been humans. The Native Americans, for example, had forms of torturer they visited upon each other that would make the Spanish Inquisitors blush. So there is more than enough blame for everyone.
You only own what you can defend.
As for the bitcoin, the US government could absolutely buy 1 million BTC. The ETFs did 1.2 million in less than a year. There are millions of Bitcoin that will move when the price is high enough, and the US has the world's largest money printer.