Source: Reason
by Brian Doherty
“Former President Donald Trump recently suggested that it’s time for the United States to form a bitcoin strategic reserve. … Bitcoin devotees have a strong incentive to go gaga over this idea, and many have. It would directly push prices upward by increasing demand, put billions of government dollars (taxpayer dollars) a year into the hands of private sellers, and signal to the world’s big money powers, sovereign and private, that bitcoin is officially ratified by the world’s richest and most powerful government. Some concerns in the bitcoin community over the idea are about vibes: Wasn’t this bitcoin experiment supposed to be about a financial system outside government control, not something for the state to co-opt for its own economic goals?” (for publication 11/24)
https://reason.com/2024/10/29/the-perils-of-a-bitcoin-strategic-reserve/