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/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/d8_thc 🟦 0 / 0 🦠 Jan 28 '25

nobody is using the US government gold and that is not at all why it's stockpiled...

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u/e_jey 🟩 0 / 0 🦠 Jan 28 '25

But you could actually use it. Someone could buy it and put it to actual use. The device you’re using has hold in it.

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u/8A8 🟩 0 / 0 🦠 Jan 29 '25 edited Jan 29 '25

Gold's industrial value is like 11% of its spot value currently. The argument for gold in this sense does not hold water.

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u/e_jey 🟩 0 / 0 🦠 Jan 29 '25

Take note the context of the conversation. At least the industrial use is even 11% of its spot value.

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u/Frogolocalypse 🟦 0 / 0 🦠 Jan 29 '25

States don't hold gold for its industrial utility, they hold it for its numismatic value. If it didn't have that numismatic value, it would be worth a fraction of its current price.

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u/e_jey 🟩 0 / 0 🦠 Jan 29 '25

My point is that at least it has some actual value. If everything went belly up right at this moment and what people needed was food then food would be worth more. At the end of the day Gold is peer pressure from the past. Everyone gave into the myth so here we are.

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u/Frogolocalypse 🟦 0 / 0 🦠 Jan 29 '25

actual value

It has value because people pay for it. As with all things. If you think bitcoin has no value, then try and acquire some for nothing.

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u/e_jey 🟩 0 / 0 🦠 Jan 30 '25

Yes people pay for it to use it. This isn’t semantics with me. I know I can buy something that doesn’t have value/utility to me other than feeling good for a few hours like alcohol.