Cryptocurrencies

[james22]

3 hours ago, Buckeye said:

How many times are they going to announce this Bitcoin Strategic Reserve? Seems like we’ve already had 2-3 announcements.

 

Until morale improves!

[james22]

Can Trump Order a Strategic Bitcoin Reserve?

 

What is the Exchange Stabilization Fund? And does it allow the Treasury Department to create a Strategic Bitcoin Reserve?

 

The Exchange Stabilization Fund (ESF) is a powerful, yet often overlooked, financial tool at the disposal of the U.S. Department of the Treasury.

 

Recently, some commentators have suggested that the ESF could be utilized by the Treasury to establish a Strategic Bitcoin Reserve (SBR) through executive action, without the need for congressional approval.

 

By leveraging the ESF's broad authority to purchase assets deemed necessary to bolster the strength of the dollar, the Treasury could potentially acquire bitcoin as a strategic asset. 

 

https://www.btcpolicy.org/articles/can-trump-order-a-strategic-bitcoin-reserve

[rkbabang]

23 hours ago, LC said:

I am about to display my ignorance but I'll go charge ahead regardless: 

 

So if the US does begin buying a "stockpile" of digital assets - who owns the wallet password? Does an unsuspecting gov't employee buy a boatload of crypto, take the passcode and wander off into the sunset? 

Again, ignorant of how such a thing would work practically. 

I do not trust government to do this correctly anymore than I trust them to deliver the mail. Mostly right isn’t going to cut it. If someone gets access to the private keys the stockpile is gone. It will be interesting to see how this is handled. Relevant story:

 

https://unusualwhales.com/news/us-marshals-service-cannot-account-for-billions-of-dollars-worth-of-crypto

[Dave86ch]

[Paarslaars]

Wood & Garlinghouse