Strategic exit liquidity for the rich fucks who are lobbying to have others hold the bag.
Yay I can’t wait for my tax dollars (and probably SS) to buy useless crypto from rich idiots. If only we could put that money into high speed rail, healthcare, school lunches, … Nah that stuff is clearly less important.
Didn’t some contry already try this and fail miserably?
As of March 2024, El Salvador’s bitcoin gambit stood at a 50% profit, with bitcoin having recorded a new all-time high of over $69,000. --the article
Bitcoin has only gone up so I’m not sure how that would even be possible…
Did you read the article you posted?
I have a better idea for a crypto plan. Let’s chain crypto bros to their mining rigs and throw them both into the ocean. Take out two pieces of trash at once.
Mining isn’t a necessity. ETH lowered it’s power usage by 98% by switching to Proof of Stake
Nobody cares.
Given how many people crow on about crypto’s environmental impact, I would say that a whole shit ton of people care.
I do.
Your claim has been falsified.Sorry, I’m done giving mental cycles to crypto apologeia.
Well, you could try to see things as differently as they are. While I agree that PoW aka ‘mining’ is bad (e.g. for the environment) and there are a gazillion of scams out there, that doesn’t mean that each and every crypto is bad.
I see you yearn for the sea…
Nice dude, literal death threat.
Now that’s a block chain I would get behind. But could we not pollute the ocean with heavy metals?
Eh. Less damage from the carbon emissions in the long run. And we can chuck 'em in one of those ocean deserts that doesn’t have much sea life in it.
Less damage from the carbon emissions in the long run.
I thought nobody cared?
Oh yeah, let’s make a reserve out of a volatile non-liquid digitial asset with extremely limited and contextual utility. Let’s also send the treasurer to the WinStar World Casino.
Hmmm.
I wonder if they have certain expectations (read inside information) about the inevitable collapse of the USD that will coincidentally happen during the next presidency of the guy with ties to Russia and his VP who is backed by the dark-right silicon crypto bros.
Nah. That’s crazy talk.
I mean it’s almost certain the value of the dollar is going to tank and that the US is hit with at least a recession if not another depression if Donvict does even half the things he’s said he will, but banking a bunch of bitcoin isn’t going to help with that. Anything that tanks the dollar will likely tank the value of bitcoin as well. This reads more like a) idiots that don’t understand bitcoin and b) an attempt to pump the price up so some of the more heavily invested techbros can exit the market before it tanks.
If they actually wanted to form a strategic reserve they should have picked something with inherent value like buying a bunch of lithium, Iridium, or just plain old gold (which is honestly one of the least valuable metals as it has very few actual uses outside of acting as a corrosion barrier).
Consider that Peter Thiel bankrolled JD Vance and that he, musk, zuck, et al have essentially established a technocratic state within the new admin. https://www.ft.com/content/408fb864-5831-4b1d-beef-fd1966b3beed
https://www.cbsnews.com/news/jd-vance-trump-vp-peter-thiel-billionaire/
The Wall Street Journal reported that Musk might support that PAC to the tune of around $45 million per month. Musk has denied that specific claim since, but the America PAC, which is run by Lonsdale, appears to be created to support the “PayPal Mafia” worldview — which includes (and indeed depends on) the bankruptcy of the United States.
https://washingtonspectator.org/peter-thiel-and-the-american-apocalypse/
At least PayPal had a suitably grand mission—the kind that post-bubble skeptics would later describe as grandiose: we wanted to create a new internet currency to replace the U.S. dollar.
~ Peter Thiel Zero to One https://archive.org/stream/zero-to-one-peter-thiel-and-blake-masters/Zero to One - Peter Thiel and Blake Masters_djvu.txt
I no longer believe that freedom and democracy are compatible.
~ Thiel The Education of a Libertarian https://www.cato-unbound.org/2009/04/13/peter-thiel/education-libertarian/
https://newrepublic.com/article/183971/jd-vance-weird-terrifying-techno-authoritarian-ideas
Etc…
Yes. Yes it is.
Google: set reminder for 2 years.
