03-07-2025, 01:09 PM
Investing.com:
Aww. No taxpayer-funded juice for you, crypto.
Well, thank God for small favors.
…turns out the government has around 200,000 bitcoin seized over the years. (This stuff seems surprisingly easy to confiscate or steal.) By my math, that’s $18B at present prices, (although down around 15% from a month ago), and the US treasury has been selling it over time, so our holdings may be less. But it means if we continued to sell, we probably could have saved as much or more money as Elmo and his dropouts without killing jobs left and right. But now we can’t sell it, because, well, Trump says so.
Bitcoin plunged sharply on Friday after U.S. President Donald Trump’s unveiling of a strategic reserve for the crypto sparked little cheer, given that it entailed no government-funded purchases of digital assets.
Aww. No taxpayer-funded juice for you, crypto.
…The reserve will be formed solely from Bitcoin seized by the federal government in criminal or civil actions, and will not entail any crypto purchases by the government.
Well, thank God for small favors.
But the government will also not sell any more of its crypto holdings…
…turns out the government has around 200,000 bitcoin seized over the years. (This stuff seems surprisingly easy to confiscate or steal.) By my math, that’s $18B at present prices, (although down around 15% from a month ago), and the US treasury has been selling it over time, so our holdings may be less. But it means if we continued to sell, we probably could have saved as much or more money as Elmo and his dropouts without killing jobs left and right. But now we can’t sell it, because, well, Trump says so.
…andkeep the Bitcoin reserve as a store of value.
:ROTFL:
Totally unrelated news (I’m sure): Binance, one of the major cryptocurrency exchanges, will now cover the first $100 of losses for first timebettorsuh…crypto purchasers.
Taking their cues from online betting sites and Vegas casinos now, I see.
Such a “store of value”.03-07-2025, 01:20 PMWow. A reasonable crypto policy.
I wonder what happened to the 'other' 4 crypto currencies pumped earlier by His Orangeness?
