What happens if (or when) a government decides to print money to buy Bitcoin?
Other governments have to follow suit, everyone loses faith in fiat and we accelerate towards ‘Bitcoinization’?
I’m trying to get my head around this one.. any ideas?
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Printing fiat to acquire Bitcoin changes nothing about its fixed supply. The market price would adjust, reflecting the erosion of fiat's value. Is that a sound strategy for governments?