ryan on Nostr: Okay, so Trump spoke at the bitcoin conference, where he promised the federal ...

Okay, so Trump spoke at the bitcoin conference, where he promised the federal government would start buying BTC (presumably using funds stolen from the public through taxation), and then - and he made a big deal of this point - to *never* sell them.

The crowd went wild of course, but it's unclear how this is good for the citizens. By artificially reducing the total supply of BTC, you inflate the value of all the currently held coin. It's just a big transfer of wealth from taxpayers to the people who got into BTC early.