Comment

Comment on Bitcoin hits $100,000 for first time

DragonTypeWyvern@midwest.social ⁨1⁩ ⁨month⁩ ago

I’m curious about what, exactly, America will do with a strategic reserve of Bitcoins besides paying ransoms for cyber attacks and terrorists. Operating in USD for all of its needs is kind of the point of having your own currency.

But, hey, Trump’s dumbass crashing the economy and getting the world to abandon the USD as a reserve currency is good for Bitcoin…

source

Sort:hotnew top

riplin@lemm.ee ⁨1⁩ ⁨month⁩ ago

I’m curious about what, exactly, America will do with a strategic reserve of Bitcoins

The same thing they do with their strategic gold reserves.

source
- DragonTypeWyvern@midwest.social ⁨1⁩ ⁨month⁩ ago
  Nothing?
  
  source
  - riplin@lemm.ee ⁨1⁩ ⁨month⁩ ago
    
    Under the currency reforms enacted by Roosevelt, the federal government owns the gold and holds it as security for $11 billion in gold certificates issued, in book-entry form, to the Federal Reserve Banks. The Federal Reserve Banks use these certificates as a small fraction of the collateral for Federal Reserve Notes.
    
    …wikipedia.org/…/United_States_Bullion_Depository
    
    source