Could Trump’s Crypto Reserve TOTALLY DESTROY America’s Finances?
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So they had this little crypto summit on Friday and they talked about a plan to establish a national stockpile for Bitcoin and other crypto tokens. And I’m scratching my chin. Yep. This executive order that was issued directs the treasury department to take custody.
and preserve government holdings of Bitcoin and other cryptocurrencies that are seized as part of investigations into wrongdoing.
following this right now. when there is some sort of crypto scam or you catch bad guys, you catch human traffickers, because again, let’s be honest, cryptocurrency is the currency for bad guys. It is! There’s no doubt about it. It is the currency for bad guys. They’re going to just hold on to these cryptocurrencies in some new sort of
guess crypto for NOX. All right. They talked about how the government has sold about 195,000 Bitcoin over the past 10 years for a total of $366 million. They said if they didn’t sell and they held on, it would be worth 17 billion today. They’re saying that federal agencies now hold some 200,000.
Bitcoins worth $16.7 billion at current market prices. But there hasn’t been an audit. Trump wants to have an audit. He then wants the Treasury to manage this Bitcoin stash as reserve assets similar to gold and foreign currency. boy. Again, it’s not a currency.
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Bitcoin is highly volatile, but other things can be volatile as well. We’ve had a sell-off and it was interesting. You would think that they, this Bitcoin summit and Bitcoin Fort Knox that Bitcoin would have rallied. It didn’t. It didn’t. The Bitcoin people were expecting that Trump was going to actually say, Hey, we’re going to start buying it. We’re going to actively start going out and buying
which I’m glad they’re not going to do. Again, they want to do this as something that’s not going to cost the taxpayers anything. Again, I don’t know what’s going to be done with this Bitcoin Fort Knox and how politicians will use it down the road and say, we got this Bitcoin!
And we’re going to take it. We’re going to sell it. We’re going to buy this or you get another left-winger in there and they’re going to go out and they’re going to sell it. They’re going to, you know, toss it to their buddies in some sort of contract for some green project or whatever it may be. Again, I don’t trust the government with any of this stuff. I really don’t. I don’t understand the necessity of having this Bitcoin reserve.
I don’t think the government should be taking a position either way. And I’ve always had that. Again, you’re going to get people on the opposite side of the coin yelling, oh, the base of the dollar, the base of the dollar, it’s been the base of dollar. Yeah, I get all that. I understand that. But again, I’m Crypto Fort Knox.
Maybe I’m just too old. I just don’t trust people in Washington DC. Watch God on WallStreet.com
