RUMOR: UK may sell over £5 billion worth of seized Bitcoin - The Telegraph
I'm sure they won't regret it 😅
Discussion
I'm all for governments selling off their Bitcoin, but I dislike legacy financial instruments swooping in to then buy it all up.
They can, and ultimately all of them will, do exactly that. Their model of control relies on fiat.
Eventually the cost of the welfare/warfare state will balloon to the point where the State will have to choose between holding BTC and continuing to fund their (fiat-denominated) obligations.
No arguments here. They are in the denial stage of fiat death. As in, they think that by denying Bitcoin, that they can prolong fiat rule, but really they secure their own demise via a sooner insolvency.
It's to interesting to watch it play out.
Right -- and this is exactly why I'm skeptical of the narrative that the SBR means that the US gov't is finally "adopting" Bitcoin. A more appropriate framing is the 2014 essay "Bitcoin's subtlety and allure", in which Bitcoin acts to create internal saboteurs within the State: https://nakamotoinstitute.org/mempool/bitcoins-shroud-of-subtlety-and-allure/
The individuals within the exceptionally corrupt Admin hope to personally profit from Bitcoin (and, more generally "crypto") at the expense of the American State.
Considering the amount of crypto grifting this admin and it's close associates have done openly already, none of that would surprise me.
sell a scarce asset for something you can just make for free.
genius!
The redistribution will be appreciated 👍
Bring it .. I need way MOAR !