r/CryptoCurrency • u/WineMakerBg Make Wine, Take Profits • Jan 28 '25
GENERAL-NEWS Latest Proposal• US Gov to Buy 200,000 BTC annually for 5 years • Hold for at least 20 years • Goal: Halve the U.S. national debt in 20 years
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u/bozzy253 🟩 0 / 0 🦠 Jan 28 '25
And they’re going to buy it how? Printing more dollars? The dollar is doomed.
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u/gsnurr3 🟩 580 / 571 🦑 Jan 28 '25
There are rumors based on what orange man is doing.
Some believe tariff tax will go towards this. Basically, yet again, he found a way to make the working class pay for it.
All while he stacks his bags with insider trading.
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u/hueythecat 🟦 0 / 0 🦠 Jan 28 '25
Bullish on tariff coin
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u/binglelemon 🟦 0 / 6K 🦠 Jan 28 '25
Tariffcoin should operate like Safemoon. Anytime someone sells, they pay a % tax to the founder.
The consumer will always pay a little more with Tariffcoin!
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u/Farge43 🟦 543 / 541 🦑 Jan 28 '25
All while whining that Pelosi is an insider trader
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u/Zombie4141 🟦 7K / 9K 🦭 Jan 28 '25
Which she is, but is definitely not exclusively her doing it.
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u/Ok_Computer1417 🟩 522 / 522 🦑 Jan 28 '25
Her trade history for the past decade is literally deep ITM mega-cap tech calls (Apple/Google/MSFT/etc). There is nothing novel about what she’s done. It’s not like she’s snapping up unknown companies before defense contracts are announced or laws are passed. I agree lawmakers should not personally be able to control their investments, but I’ve always found that she’s the most popular example hilarious, because questioning her trade history just makes people sound like morons.
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u/azdcaz 🟦 1 / 1 🦠 Jan 28 '25
Yeah. And she’s been outperformed by about a dozen of colleagues from both sides of the isles.
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u/JawnZ 🟦 218 / 218 🦀 Jan 29 '25
Both sides of the *aisle
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u/ubiquitous_apathy 🟦 0 / 0 🦠 Jan 29 '25
No, he's talking about Hawaii and Puerto rico.
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u/Yodel_And_Hodl_Mode 🟩 1K / 1K 🐢 Jan 29 '25
You say that as if Republicans don't do the exact same thing. You're like Al Capone, pointing at someone & shouting "Oh my god, THAT guy is a mobster!"
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u/Farge43 🟦 543 / 541 🦑 Jan 28 '25
Yeah wasn’t trying imply the accusations were unfair. Sorry about that
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u/YourFixJustRuinsIt 🟩 0 / 0 🦠 Jan 28 '25
Dude dismantling democracy and that’s all you got. The leopards are coming.
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u/Outsider-Trading 🟩 0 / 0 🦠 Jan 28 '25
Just to clarify.
The US government, under Trump, is planning to accrue and hold a million Bitcoin.
We are currently on the cryptocurrency subreddit.
People are complaining.
Did I get that right?
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u/nomadic_hsp4 🟨 0 / 0 🦠 Jan 28 '25
Where are you going to spend that crypto in the post neoliberal dust planet that these policies encourage?
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u/Da_Notorious_HAM 🟨 10K / 20K 🐬 Jan 28 '25
And launching meme coins the weekend before he takes office
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u/kdoughboy12 🟦 1K / 1K 🐢 Jan 28 '25
The annual us budget is over 6 trillion. With BTC current price it would cost 20 billion to purchase 200,000 BTC. That's only one third of a percent of the budget. I don't think that's gonna break the dollar.
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u/Devincc 🟦 0 / 0 🦠 Jan 28 '25
OP commentator also doesn’t understand that we don’t print our budget every year..
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u/SadBurrito84 🟩 0 / 0 🦠 Jan 28 '25
Converting money we already have of course…🤦🏼♂️
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u/SophomoricHumorist 🟩 24 / 24 🦐 Jan 28 '25
One proposal by M. Saylor was to sell some of the US gold reserves to buy bitcoin. Great idea, honeatly.
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u/AaronSpanki 🟩 0 / 0 🦠 Jan 28 '25
Did you or anyone of your friends care about the endless historic printing the last 4 years?
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u/ledbottom 2 / 2 🦠 Jan 29 '25
Why would we print money when we can just allocate part of our budget to buying it instead spending 100s of billions on the military.
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u/HSuke 🟩 0 / 0 🦠 Jan 28 '25
This is the kind of get-out-of-debt solution that gambling addicts use.
Go all in on crypto moonshots.
Thanks Lummis
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u/partymsl 🟩 76K / 143K 🦈 Jan 28 '25
And the US has not behaved anything less like a gambler while piling up this debt, so they may as well embrace it now.
(Also to pump our bags)
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u/HSuke 🟩 0 / 0 🦠 Jan 28 '25
That's Congess's spending problem. It's good to spend to stabilize the economy during bad times of national crisis, but they never increase taxes and reduce spending during good times.
They don't listen to economists.
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u/der_innkeeper 🟦 0 / 0 🦠 Jan 29 '25
The ones that do listen to economists do not get elected in enough numbers to do anything, because that is "responsible" and "paying our bills".
Those that don't promise tax cuts and no spending because "keep your government hands off my medicare".
Then, the ones that do listen to economists are screamed at for wanting to pay our bills, but can't work fast enough to actually fix anything, so the goldfish-memoried electorate elects more frat kids to cut taxes and keep spending.
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u/DFX1212 🟥 2K / 2K 🐢 Jan 28 '25
How does this cut the debt?
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Jan 28 '25
They want to rug us
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u/KamikazeSexPilot 🟦 439 / 440 🦞 Jan 28 '25
I’ll just sell in 19 and a half years. Beat them by 6 months.
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Jan 28 '25
[removed] — view removed comment
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u/HelixTitan 🟦 0 / 0 🦠 Jan 28 '25
I don't see how people don't get this. Stop allowing greed to be your only guide
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u/ImJustHere4theMoons 🟦 803 / 800 🦑 Jan 28 '25
Already pre-emptively passing blame to any other group than our elected leaders. Classic.
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u/StatisticalMan 🟩 0 / 10K 🦠 Jan 28 '25 edited Jan 28 '25
Same proposal she has had for 3 years now. Zero interest from Congress in doing this. It does get her plenty of campaign donations from crypto bros. She goes to conference and says "so close maybe next year please donate".
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u/devilldog 🟦 2K / 2K 🐢 Jan 28 '25
Many of these guys have already loaded up their crypto bags. Using government funds to pump BTC nets them significant profit without having to crawl over one another to snatch the lobbyist handout.
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u/partymsl 🟩 76K / 143K 🦈 Jan 28 '25
It could be different with Trumo tho.
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u/StatisticalMan 🟩 0 / 10K 🦠 Jan 28 '25
Trump seems content with shilling shitcoins. If I see a dozen or so senators talking about this seriously it will change my mind. So far ... <crickets>
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u/RSomnambulist 🟦 38 / 38 🦐 Jan 28 '25
What happens to the debt if BTC falters?
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u/mr_605 🟩 0 / 0 🦠 Jan 28 '25
They lose their money.
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u/RandoDude124 🟩 0 / 0 🦠 Jan 28 '25
And we enter an economic apocalypse.
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u/wonder_bear 0 / 0 🦠 Jan 29 '25
We already heading there man. Let’s speed run this shit.
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u/Snahhhgurrrr 🟩 0 / 0 🦠 Jan 28 '25
As if BTC will just drop to 0...
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u/th4lioN 🟦 0 / 0 🦠 Jan 28 '25
Not gonna happen, I have a buy order for all of them at 0,001$.
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u/giorgio_tsoukalos_ 🟦 101 / 102 🦀 Jan 28 '25
I just set a limit for .0011$ better luck next time, chump.
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u/th4lioN 🟦 0 / 0 🦠 Jan 28 '25
Someone tried this in 2009 already. We overbid ourselves for a few years til 100k or something.
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u/XoXeLo 🟦 1K / 1K 🐢 Jan 28 '25
Isn't it obvious? All the Redditors go outside the whitehouse and start screaming: HODL!!!!!!!!!!
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u/perceptual01 🟦 121 / 121 🦀 Jan 28 '25
Literally nothing. The debt is still there even if BTC goes to a trillion or 0 - depends what’s done with $ when sold (realized losses or gains).
Plus by the nature of usd the debt isn’t so much a balance of +- as our money isn’t backed by anything. It more so devalues the currency we all hold as a society. The US gov could print our debt overnight but inflation would crazy.
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u/8A8 🟩 0 / 0 🦠 Jan 28 '25 edited Jan 28 '25
The lopsided pro/con to this is worth the play. If Bitcoin fails, a $100B loss is literally 20% of what the US just announced with the AI bill. Its the equivalent of a single Ukraine aid bill. (and this is considering a 100% loss on BTC)
If BTC prevails, that $100B could turn into $5T of pristine collateral. even if there is a 5-10% chance of that success, its positive EV.
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u/Ngc2273 🟦 0 / 0 🦠 Jan 28 '25
People need to think about this a little bit more. What does the world look like where BTC has "prevailed"? 1. Who will the US be selling that amount of BTC to, to get that much value without crashing it? 2. If there are countries that are demanding and transacting in Bitcoin in that scenario, (which is what would've given BTC that much value), it means we would have long shifted away from the USD as the reserve. It would've been already devalued completely. Paying off that USD debt in that situation would be completely irrelevant amongst other things.
A lot of the political blabbering is just to make personal unregulated portfolios go up, with no long term coherently thought out plan that actually benefits the people.
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u/Deep_Researcher4 🟩 0 / 0 🦠 Jan 28 '25
Don't think about it too hard; it's a pump and dump scheme. Trump doesn't give a shit what happens 20 years from now.
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u/CHUBBYninja32 🟦 0 / 0 🦠 Jan 29 '25
If there was any leak that the USA is selling some of its coin, the market would fucking tumble trying to get out ahead. Doesn’t make any sense.
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u/HSuke 🟩 0 / 0 🦠 Jan 28 '25
Cool. So now we're options trading US debt on crypto?
Sounds like something a gambling addict would do
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u/8A8 🟩 0 / 0 🦠 Jan 28 '25
It's a hedge? The US has strategic reserves in all kinds of commodities - oil, gold, etc. It makes sense in a world that is so quickly shifting from analog to digital, to embrace a stateless digital asset that is literally >10% of the market cap of gold.
You must understand that literally everything from a political decision perspective is a game theory EV play. From arms races and trade wars, to alliances and treaties. Everything involves risk, and its a matter of hedging that risk.
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u/HSuke 🟩 0 / 0 🦠 Jan 28 '25
Strategic reserves are all things we use:
Grain, gas, oil, helium, antibiotics, vaccines, antidotes, lithium, gold, potassium, noble gasses
Bitcoin doesn't really fit here as having utility.
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u/clownysf 🟦 76 / 76 🦐 Jan 28 '25
That’s still my main issue with a move like this. I don’t necessarily disagree with it but the lack of btc utility essentially makes this one large gamble.
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u/HelixTitan 🟦 0 / 0 🦠 Jan 28 '25
And if you think Bitcoin is a good hedging instrument, then you couldn't be more wrong. Stability is the name of the game for hedge strategies, there are way better options to do this exact same thing with, just not Bitcoin
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u/8A8 🟩 0 / 0 🦠 Jan 28 '25 edited Jan 29 '25
A hedge is literally just a contingency plan.
Was Michael Burry's bet not a hedge against the status quo? The US does not exist in a vacuum, contrary to most American's beliefs. This is global game theory playing out in real time. We are literally seeing other economic giants growing warm to Bitcoin by the second. Russia, China, and Middle Eastern countries are frothing at the mouth at the thought of a collapsing US dollar and an alternative.
In a world where sovereign nations adopt Bitcoin in their reserves, even in small amounts (and there is already precedent with smaller, more agile nations, like Bhutan, and El Salvador), it becomes a chain-reaction of capital that no-one wants to be left behind in.
The US, with a relatively modest amount in the grand scheme of their budget, gets their foot in the door as a hedge to all of this playing out.
Am I stating that this a guaranteed play and that these other nation states will act this way? no.
Am I stating that it would be naive to believe that it is an impossibility? Absolutely.
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u/VoDoka 🟩 3K / 3K 🐢 Jan 28 '25 edited Jan 28 '25
lol, if they then put it all on red and win, they have $10T.
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u/InclineDumbbellPress Never 4get Pizza Guy Jan 28 '25
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u/partymsl 🟩 76K / 143K 🦈 Jan 28 '25
I mean... it doesn't make sense, but as long as they pump my bag...
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u/Potatotornado20 🟩 0 / 633 🦠 Jan 28 '25
The problem with this plan is you’re still trusting someone in the government to hold the keys to the wallets.
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u/iStealyournewspapers 🟦 86 / 87 🦐 Jan 28 '25
They hold the key to what could end all life on earth. I think they can handle some crypto wallets.
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u/lareigirl 🟩 0 / 0 🦠 Jan 29 '25
This assumes nukes have been responsibly handled.
Just because we’re all alive, does NOT mean there haven’t been dozens of close calls that have brought us within seconds of species-scale annihilation prevented by some normal dude who got enough sleep to say “nah”.
In any event they’d probably shift responsibility to a custodian like Coinbase and then insure their holdings
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u/iStealyournewspapers 🟦 86 / 87 🦐 Jan 29 '25
For sure. Here’s one example I know about:
“On September 26, 1983, Stanislav Petrov was on duty at a nuclear early warning center near Moscow. Suddenly, the system reported that the United States had launched five intercontinental ballistic missiles (ICBMs) toward the Soviet Union. If true, this would have called for an immediate nuclear retaliation.
Petrov, however, doubted the accuracy of the warning and chose not to report it to his superiors, who could have ordered a retaliatory strike. He reasoned that if the United States were to launch a first strike, it would likely involve hundreds of ICBMs, not just five.
It turned out that Petrov’s instincts were correct, and the warning was indeed a false alarm. The system had mistaken sunlight reflecting off high-altitude clouds for missile launches. By not reporting the warning, Petrov is widely credited with preventing a potential nuclear catastrophe.”
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u/subdep 🟦 1K / 1K 🐢 Jan 29 '25
You seem to forget who Dear Leader is. He’s absolutely the kind of guy who will carry the paraphrase in a text file in the clear, on a USB stick in his pocket, attached to a keychain with a rabbit’s foot.
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u/SoupHerStonk 🟨 0 / 0 🦠 Jan 28 '25
If you end all life or even a country, you're shooting your whole country in the foot. If a person stole 'some crypto keys' that person won't give a fuck and will just disappear gangbanging around the world
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Jan 28 '25
Can't find this on their site. Seems fake.
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u/Snahhhgurrrr 🟩 0 / 0 🦠 Jan 28 '25
probably isn't, I think she's been trying stuff like this for a while now
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u/willzyx01 🟨 479 / 515 🦞 Jan 28 '25
Lummis doesn’t even understand what she’s talking about.
How the fuck would US Govt pay for 200k btc annually? Print money like they did in 2020?
How the fuck would holding btc halve US National Debt? Math does not math.
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u/dou8le8u88le 🟦 2K / 2K 🐢 Jan 28 '25
Yes print money, like they do every 4 years or so. They’ve been doing it for years. Its why clever people buy btc
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u/CryptoNerdSmacker 🟩 2K / 2K 🐢 Jan 28 '25
She’s banking on her base being too stupid to ask these questions.
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u/CEO_head_bowling 🟨 0 / 0 🦠 Jan 28 '25
The answer is to bring the dollar back towards the gold standard. Will it work, doubt it.
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u/Infamous-Mastodon677 🟩 0 / 0 🦠 Jan 28 '25
Eh, what's another 0.3% of the US budget (or 1% of the deficit) each year anyway?
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u/cryptocraze_0 🟦 551 / 551 🦑 Jan 29 '25
- 20Billions is peanuts to the government
- By 2045 you pay your debt with BTC.
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u/Isphus 🟦 0 / 0 🦠 Jan 29 '25
At 100k each, it'd only take 20 billion. A lot of money, but manageable.
But buying 200k while only 160k are mined is going to skyrocket the price real quick.
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u/Misher7 🟦 0 / 0 🦠 Jan 29 '25
This is honestly the dumbest shit I’ve ever heard. These people clearly don’t understand how sovereign debt works.
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u/BrandeisBrief 🟩 0 / 0 🦠 Jan 29 '25 edited Jan 29 '25
Not only sovereign debt but even if it magically skyrocketed in value that much, how is the government going to exit its $9 trillion in btc position?
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u/MISFU88 🟦 0 / 0 🦠 Jan 28 '25
I'm very confided BTC will hit 500K in a couple of years. The only issue being a mid sized apartment will cost 800M at that point.
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u/o2bprincecaspian 🟩 0 / 0 🦠 Jan 28 '25
Print money to buy the bitcoins...duh. You fks think we have 20 years? Lol stop spending more than you make. Quickest way to half the national debt. Also, if you use another currency to bail out you fiat currency...you've missed the point and too far gone.
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u/WurdaMouth 🟦 0 / 0 🦠 Jan 29 '25
So basically dump the American coffers into Bitcoin only to have foreign powers tank the price? Wtf?
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Jan 28 '25
Ruining and defacing our country, our values and the dollar one dumb Republican at a time.
God bless all you fucking losers.
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u/dou8le8u88le 🟦 2K / 2K 🐢 Jan 28 '25
There’s a lot of very confused, angry buttcoin morons in here losing their shit. Better get used to it 😂
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u/SevereCalendar7606 🟦 0 / 923 🦠 Jan 29 '25
What happens when you get a persistent that doesn't agree with this?
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u/messengers1 🟩 0 / 0 🦠 Jan 29 '25
When was this news? The running bar at the bottom shows GOOG trading price 165.94. SP500 5950.47 today?
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Jan 29 '25
Isn’t gold pumping too!? And they have the biggest supply in KNOX stolen from everywhere.
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u/herefromyoutube 🟩 60 / 61 🦐 Jan 29 '25
Or…and hear me out…stop giving tax cuts and handouts to the rich?
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u/Hadleyagain 🟩 0 / 0 🦠 Jan 29 '25
Lots of people on here can’t see that state involvement means state control. If nations start using crypto and subverts traditional financial regulations and oversight then every one of us is fucked. Wonder how many of you put cunt in Chief where he is now.
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u/Arkfoo 🟦 0 / 0 🦠 Jan 28 '25
Yeah, no I'm all for Crypto but this is a reach. The current government ain't doing anything that threatens or lowers the needs forthe Dollers a.k.a get devalued. It's a fact.
And yes previous government was the same.
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u/sl00k 🟦 14 / 14 🦐 Jan 28 '25
Normally I agree but with the current sitting president all laws are going out the window. This mans will personally tank the dollar just to make him 10% richer.
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u/tomzi9999 🟩 27 / 27 🦐 Jan 28 '25
Didn't hear IMF threaten US for buying BTC like they did to El Salvador.
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u/Hutcho12 🟦 0 / 0 🦠 Jan 28 '25
Works if Bitcoin goes up. Bankrupts the country if it doesn’t. Latter scenario is more likely.
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u/Difficult-Mobile902 🟩 0 / 0 🦠 Jan 28 '25
The Us government spending few billion dollars is not going to “bankrupt the country” lol are you for real?
And it’s not even a “spend” really, just holding an asset that has historically not only outpaced other investments but certainly retains its value more than any inflationary fiat currency
Not to mention if the US government creates a reserve, other countries will be compelled to follow, the idea that bitcoin will crash as soon as the US government starts buying a bunch of it is as laughable as your idea that it would bankrupt the country
Get real man
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u/[deleted] Jan 28 '25
20 billion a year for 5 years? Debt of 36 tn. So ... half of that is 18 trillion, and with 1 million coins that values BTC at 18 million per coin in 2045.