Why the US Government Plans to Buy 1 Million Bitcoin
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Top Comments (10)
It's gonna be a huge pump and dump of officials who know when it will happen.
"Gold Certificates" ? Back in my day, that was called "money"
They aren’t really gold certificates unless they can be exchanged for physical gold.
If the American government actually wants to buy 1 million BTC over a period of 5 years, that would be the same as buying 548 BTC per day. Given that only 450 BTC are being mined per day now (until 2028), that means they would be purchasing 122% of the daily production of BTC for 5 years straight. So, on top of purchasing every single newly mined BTC, they would need to find sellers in the market (at a rate of 98 BTC per day on average). The more interesting question then becomes: at which price will those BTC have to be purchased?
"He initially thought he was being robbed..." - then he realized he was being robbed! xD
you know what's risky, $36T in debt and counting...
Issuing gold certificates is neutral? They are worthless if they are not able to be redeemed for the gold,…so what she is suggesting is we will irredeemable gold certificates to buy and pay for bitcoin
The US buying into a risky asset with „borrowed“ money in the hopes of paying off the debt with great financial returns. That definetely sounds like a good idea
One thing you overlooked in this episode is that the gold being held by the Federal Reserve (in Ft Knox, New York and elsewhere) has NEVER been audited. In fact, other countries, for whom we are storing their gold, have from time to time pressed this issue concerning their own gold. But gold is very fungible so when a pallet is rolled out for, say, Brazil, there is no way that they can KNOW that this is their gold and not just a random "flash of stash".
Risk reward is off the charts. If they spend a trillion and they’re wrong, it’s just a drop in the bucket. If they spend a trillion and they’re right, it’s transformative.
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Top Comments (10)
It's gonna be a huge pump and dump of officials who know when it will happen.
"Gold Certificates" ? Back in my day, that was called "money"
They aren’t really gold certificates unless they can be exchanged for physical gold.
If the American government actually wants to buy 1 million BTC over a period of 5 years, that would be the same as buying 548 BTC per day. Given that only 450 BTC are being mined per day now (until 2028), that means they would be purchasing 122% of the daily production of BTC for 5 years straight. So, on top of purchasing every single newly mined BTC, they would need to find sellers in the market (at a rate of 98 BTC per day on average). The more interesting question then becomes: at which price will those BTC have to be purchased?
"He initially thought he was being robbed..." - then he realized he was being robbed! xD
you know what's risky, $36T in debt and counting...
Issuing gold certificates is neutral? They are worthless if they are not able to be redeemed for the gold,…so what she is suggesting is we will irredeemable gold certificates to buy and pay for bitcoin
The US buying into a risky asset with „borrowed“ money in the hopes of paying off the debt with great financial returns. That definetely sounds like a good idea
One thing you overlooked in this episode is that the gold being held by the Federal Reserve (in Ft Knox, New York and elsewhere) has NEVER been audited. In fact, other countries, for whom we are storing their gold, have from time to time pressed this issue concerning their own gold. But gold is very fungible so when a pallet is rolled out for, say, Brazil, there is no way that they can KNOW that this is their gold and not just a random "flash of stash".
Risk reward is off the charts. If they spend a trillion and they’re wrong, it’s just a drop in the bucket. If they spend a trillion and they’re right, it’s transformative.