ea on Nostr: The US government already owns more than 207,000 bitcoins from the seizures e.g., ...
The US government already owns more than 207,000 bitcoins from the seizures e.g., Silk Road, Jimmy Zhong and others. This initial proposed bill was first introduced in the summer of 2024 by a senator who first purchased bitcoin in 2013. The current EO mandates the purchase of bitcoins over the course of 5 years. Furthermore, it outlines restrictions such as not being able to sell mostly to keep it as a store of value for 20 years. There is another clause which is interesting surrounding gold certificates. Ultimately the aim of the EO is to help reduce the national debt as the price of bitcoin appreciates over time. The other component to this bill is a reaction to the Brics nations trying to get away from the US dollar. [On a side note: did you notice what was depicted on the cover of the Economist re: brics which was posted on my feed] …in any event, keeping it in the national reserve could also potentially be used as a leverage. Since Trump seems concerned about China, he doesn’t want China to dominate this space. Afterall, it was not too long ago until the communist government banned bitcoin and crypto, however, before then,Chinese users were the most active participants in this space. Any other considerations?
Published at
2024-12-20 04:23:14Event JSON
{
"id": "526cb57cd722f9105e44a25860a01bae5bef7c3ee4699a5230c65f26c072bc74",
"pubkey": "329d2d0725192463e54b0e5f733c30293963938edfc4c2172c4a8bcf407a0ca6",
"created_at": 1734668594,
"kind": 1,
"tags": [
[
"p",
"6a37b0a3376a23803e7e87376e1b4f7077b46e67143269c87c7b90dd264a4b9d"
],
[
"e",
"93f3a13078dcfaeb851f0c3bae945c005d11537dc1955d37d8752606148988a2",
"",
"root"
]
],
"content": "The US government already owns more than 207,000 bitcoins from the seizures e.g., Silk Road, Jimmy Zhong and others. This initial proposed bill was first introduced in the summer of 2024 by a senator who first purchased bitcoin in 2013. The current EO mandates the purchase of bitcoins over the course of 5 years. Furthermore, it outlines restrictions such as not being able to sell mostly to keep it as a store of value for 20 years. There is another clause which is interesting surrounding gold certificates. Ultimately the aim of the EO is to help reduce the national debt as the price of bitcoin appreciates over time. The other component to this bill is a reaction to the Brics nations trying to get away from the US dollar. [On a side note: did you notice what was depicted on the cover of the Economist re: brics which was posted on my feed] …in any event, keeping it in the national reserve could also potentially be used as a leverage. Since Trump seems concerned about China, he doesn’t want China to dominate this space. Afterall, it was not too long ago until the communist government banned bitcoin and crypto, however, before then,Chinese users were the most active participants in this space. Any other considerations? \n",
"sig": "aa35b8451589b0f4cb876e9ceba0fa2cf102b6a5f70be7b411f1eb418a892d6e9e961faa6e78f6dfa987ee9914b7fd6c1d3bca22a75281bcb4eddfc9ace5be71"
}
