2 upvotes, 1 direct replies (showing 1)
View submission: Bullish Bitcoin Interview that just came out
If we mark our gold to market, we could sell just 10% of it, hold what btc we have, buy $50B more btc. Then just sit on it. If we do it, every other civilized country will do it, which will be massively accretive to our reserve. Again just 10% diversification from gold.
Comment by Grunblau at 01/02/2025 at 22:20 UTC
-3 upvotes, 0 direct replies
I’d rather tokenize the gold and add a few other metals and strategic stockpiles and develop a currency that is represented by all of these reserves including Bitcoin. Redeemable in gold, silver or Bitcoin.
This version of a Bitcoin reserve is short sighted and of course everyone wants their bags pumped. I’d rather it not be tied to dollar debt. Selling gold at a time when BRICS are about to announce a gold backed money is counter productive for our country.
We also need to protect against a Blackrock fork away from proof of work.
I buy Bitcoin because there is no alternative that is better. If there is a redeemable gold/silver note. This might change for a lot of governments, etc.
I do think the act will fail and I will buy the dip.