As the bill makes it way through Congress, the price goes up substantially with each step increasing the the price and decreasing the chance the treasury can ever make any money that can be applied to reducing the debt.
Also, I own it, but I don’t know why other than diversification. I own I condo in Argentina and often need to send money there, st this it is not simple and easy to do.
Lots of questions remain, especially around the path to the Bill being adopted. Let’s see what happens in the first days of Trump’s administration, as this may give us a much better idea of where all this goes.
What if BRICS just call the bluff and buys the gold the U.S. sells off, and no significant country gets into bitcoin since you can’t really use it for anything? Peter schiff’s point on buying bitcoin by the treasury just to hodl will eventually tank the price of bitcoin if they buy it just to hold and not use, because then what value would it have?
He could be the most wrong person but bitcoin isn’t used for anything right now. The concept of bitcoin right now is to hold to keep the demand high and price high, then what gives it value as money which is to be exchanged? And I’m asking bc I actually want the answer, I don’t get why someone would go to using bitcoin instead of cash (I get that it’s fiat but still untraceable and still has value rn) or gold or something else instead. It doesn’t make sense to me. Bitcoin seems like it’s an asset before being money instead of gold which was money before it was an asset, if that makes sense
It's a reserve asset, its made to be hold, appreciate with time and counter the inflationary fiat currencies. it will also be used to settle big projects between nations and companies. All this with minimal transfer costs for billions worth in USD + you can look at it as a decentralized bridge between EAST and WEST. Nobody has to trust nobody because it's a trustless network and there is no need to trust, which is perfect for the increasingly seperate world, which has to make business nonetheless.
As the bill makes it way through Congress, the price goes up substantially with each step increasing the the price and decreasing the chance the treasury can ever make any money that can be applied to reducing the debt.
Also, I own it, but I don’t know why other than diversification. I own I condo in Argentina and often need to send money there, st this it is not simple and easy to do.
Lots of questions remain, especially around the path to the Bill being adopted. Let’s see what happens in the first days of Trump’s administration, as this may give us a much better idea of where all this goes.
What if BRICS just call the bluff and buys the gold the U.S. sells off, and no significant country gets into bitcoin since you can’t really use it for anything? Peter schiff’s point on buying bitcoin by the treasury just to hodl will eventually tank the price of bitcoin if they buy it just to hold and not use, because then what value would it have?
Nobody has been more wrong about Bitcoin than Peter Schiff. We should expect that to continue.
He could be the most wrong person but bitcoin isn’t used for anything right now. The concept of bitcoin right now is to hold to keep the demand high and price high, then what gives it value as money which is to be exchanged? And I’m asking bc I actually want the answer, I don’t get why someone would go to using bitcoin instead of cash (I get that it’s fiat but still untraceable and still has value rn) or gold or something else instead. It doesn’t make sense to me. Bitcoin seems like it’s an asset before being money instead of gold which was money before it was an asset, if that makes sense
It's a reserve asset, its made to be hold, appreciate with time and counter the inflationary fiat currencies. it will also be used to settle big projects between nations and companies. All this with minimal transfer costs for billions worth in USD + you can look at it as a decentralized bridge between EAST and WEST. Nobody has to trust nobody because it's a trustless network and there is no need to trust, which is perfect for the increasingly seperate world, which has to make business nonetheless.