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President on Brink of Bailout for Bitcoin (citationneeded.news)
26 points by JeremyNT 7 months ago | hide | past | favorite | 8 comments


From what I have read, which may or may not be accurate, the Crypto Reserve he is talking about is the seized assets they already have. I'm not sure how taxpayers will feel about the government adding to the reserve while running a huge deficit, and the economy teetering on a possible slowdown.


There was this seizure valued at $3.36B

https://www.justice.gov/usao-sdny/pr/us-attorney-announces-h...

I dunno how accurate this is but current holdings are said to be about 210,000 BTC here

https://treasuries.bitbo.io/usa/

At $90,000 per BTC that's about $20 billion which is an impressive amount for the prez to talk about without having to do anything in particular.


It was taken from the Silk Road.


Silk Road was the biggest but not the only.


Isn't this just bringing stock buy backs to Crypto / Government. I'm sure the administration (individuals personally) has or will buy a lot of crypto. Next have the government buy it over a period of time, and then have the administration sell at the height. Effectively a way to pay the executive team. Similar to when Corporations do stock buy backs.

I wouldn't be surprised if they make reporting this optional.


David Sacks claimed he sold all his cryptocurrency before he joined the administration

https://x.com/DavidSacks/status/1896398256357384310


The sub-headline itself: "...breathe life back into..." shows how utterly misguided this article is.

Does this look like an asset that needs life breathing back into it?

https://imgur.com/a/Dhemhk9

https://imgur.com/a/G9fmGur (logarithmic price scale)


I could only make it about 35% of the way through the article before it went off track on a bunch of side quests.

I think this is an important topic, and ultimately this is a good move for everyone. It's just so damn hard to find any sort of neutral coverage about current events where the word "Trump" must be mentioned.




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