I can’t think of any. The current oil reserve is supposed to be used in the case of another oil embargo. But its actual use is to lower gas prices when the administration in power needs a political win.

I actually think the purpose of a Bitcoin reserve is to temporarily increase the price so tech-bros (re: Elon) can sell at a massive profit. Then buy back at a much lower price. It’s just a way to indirectly transfer federal dollars into administration pockets.

I can’t find any reason for the government to buy crypto and hold it in reserve.

  • Bronzebeard@lemm.eeEnglish
    181·
    5 days ago

    That’s exactly what the plan is. They’re funneling themselves government money, but in a way that’s less traceable

    • knightly [none/use any]@hexbear.netEnglish
      51·
      5 days ago

      It’s not “less traceable”, bitcoin is a public ledger, literally every transaction is documented on the blockchain for anyone and the IRS to see.

      • Bronzebeard@lemm.eeEnglish
        9·
        5 days ago

        … Less traceable in that the price of the coin going up and them cashing out isn’t a direct line from the government coffers to their pocket.

        I’m aware it’s a public ledger.