this post was submitted on 17 Dec 2024
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"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. Itβs just a way to indirectly transfer federal dollars into administration pockets."
This is the way. It's the only reason they'd do it.
I seriously doubt BRICS has anything to do with Bitcoin, but the US is absolutely concerned about losing the status of world currency. It's literally how we survive while running a massive deficit. When the rest of the world finds a way to do business without the US getting its cut we're going to be in deep shit.
That's exactly what the plan is. They're funneling themselves government money, but in a way that's less traceable
It's not "less traceable", bitcoin is a public ledger, literally every transaction is documented on the blockchain for anyone and the IRS to see.
... Less traceable in that the price of the coin going up and them cashing out isn't a direct line from the government coffers to their pocket.
I'm aware it's a public ledger.