Why would you back $ with bitcoin vs not just get rid of $ and replace it with #bitcoin ?!
Discussion
I agree in principle but realistically, #Bitcoin couldn’t handle the volume of transactions.
If they make the dollar fully redeemable for Bitcoin, they will find themselves with a pile of useless money and no more Bitcoin.
a pesky little thing called political palatability
To short it
to make people think that your currency that will inevitably be inflated is backed by something and to maintain power over regular peoples spending (censorship)