Asklemmy

44149 readers

1202 users here now

A loosely moderated place to ask open-ended questions

Search asklemmy 🔍

If your post meets the following criteria, it's welcome here!

Open-ended question
Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
Not ad nauseam inducing: please make sure it is a question that would be new to most members
An actual topic of discussion

Looking for support?

Looking for a community?

Lemmyverse: community search
sub.rehab: maps old subreddits to fediverse options, marks official as such
!lemmy411@lemmy.ca: a community for finding communities

~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~

founded 5 years ago

MODERATORS

108

Are there any honest benefits to a Federal Strategic Bitcoin Reserve? (midwest.social)

submitted 5 days ago by DemBoSain@midwest.social to c/asklemmy@lemmy.ml

60 comments fedilink hide all child comments

I can't think of any. The current oil reserve is supposed to be used in the case of another oil embargo. But its actual use is to lower gas prices when the administration in power needs a political win.

I actually think the purpose of a Bitcoin reserve is to temporarily increase the price so tech-bros (re: Elon) can sell at a massive profit. Then buy back at a much lower price. It's just a way to indirectly transfer federal dollars into administration pockets.

I can't find any reason for the government to buy crypto and hold it in reserve.

you are viewing a single comment's thread
view the rest of the comments

[–] CanadaPlus@lemmy.sdf.org 3 points 3 days ago

For America? I can't think of any - being a global superpower, they have endless other better ways to do everything they might need it for.

For the rest of us, easier darknet drugs, I guess. It makes it a lot harder to ban crypto.

I actually think the purpose of a Bitcoin reserve is to temporarily increase the price so tech-bros (re: Elon) can sell at a massive profit. Then buy back at a much lower price. It’s just a way to indirectly transfer federal dollars into administration pockets.

I mean, I guess, but that actually gives them more credit than I think they deserve for being smart. I think they're just bringing their bullshit hype with them into office.