zforce on Nostr: The state becomes more rich and powerful with fiat, Bitcoin dismantles that power, ...

The state becomes more rich and powerful with fiat, Bitcoin dismantles that power, even if they still hold wealth in a Bitcoin economy.

Bitcoiners also become disproportionately rich and powerful in this scenario, which is appealing.

And I don't think many are excited about the actual act of the state buying Bitcoin - what's more important is what that implies about the value of Bitcoin itself, which is what we are seeing be priced in.

Not a single new Bitcoin in the SBR, but just the idea that they could do that is enough to make others act.