guy on Nostr: Took me a second to find it... then remembered we have grok to find things on twitter ...
Took me a second to find it... then remembered we have grok to find things on twitter post. Exchange Stabilization Fund (ESF) was it. Like a back handed way they could buy it or stocks that have it on their balance sheet. Pretty sure they talked about it on walker (npub1cj8…rz4u)'s podcast the other day with him.
Grok's Answer:
Luke Gromen has discussed the Exchange Stabilization Fund (ESF) as a mechanism through which the U.S. President could potentially purchase Bitcoin without needing an executive order or Congressional approval. The ESF, established under the Gold Reserve Act of 1934, allows the U.S. Treasury to deal in various forms of credit instruments to stabilize the dollar. According to posts found on X, the Treasury Secretary can use the ESF to buy Bitcoin by entering into a debt obligation repayable in BTC with a qualified counterparty, thereby managing the Net International Investment Position (NIIP) by diversifying assets into cryptocurrencies. This approach would leverage the existing legal framework of the ESF to innovate in asset management without new legislative actions.
Grok's Answer:
Luke Gromen has discussed the Exchange Stabilization Fund (ESF) as a mechanism through which the U.S. President could potentially purchase Bitcoin without needing an executive order or Congressional approval. The ESF, established under the Gold Reserve Act of 1934, allows the U.S. Treasury to deal in various forms of credit instruments to stabilize the dollar. According to posts found on X, the Treasury Secretary can use the ESF to buy Bitcoin by entering into a debt obligation repayable in BTC with a qualified counterparty, thereby managing the Net International Investment Position (NIIP) by diversifying assets into cryptocurrencies. This approach would leverage the existing legal framework of the ESF to innovate in asset management without new legislative actions.