
Jinze 金泽|Feb 06, 2025 07:03
I strongly agree with Little Black's viewpoint that if the government buys Bitcoin mainly for political purposes rather than economic rationality, once the regime changes, the next government may suddenly sell these bitcoins, thereby damaging the long-term confidence of the entire cryptocurrency industry. Therefore, it is meaningless to expect the United States to print money to buy bitcoins, which are neither means of production nor interest bearing assets.
However, Little Black Brother's solution is very interesting. He said that the United States should issue a super long term zero interest treasury bond to replace Bitcoin from the market. Because there is no interest payment, the financial pressure on the United States is greatly reduced, and the market is free to price the discount rate of the super long term bond.
At the same time, it is necessary to ensure at the legislative level that BTC, as a reserve, will not be easily kicked out by future governments. As the price of Bitcoin rises over time, the appreciation of Bitcoin assets held by the Treasury Department can improve the balance sheet of the US federal government.
I think this approach has sufficient economic rationality! Following this approach, it is not easy for the market to rush ahead. Otherwise, once the United States announces its intention to purchase Bitcoin in cash and wait for the US government to take over, it is essentially equivalent to letting American taxpayers take over, and ultimately it will be a mess.
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