GM. 🌞
Is strategic bitcoin reserves this round’s supercycle?
What makes you think that governments are going to have hands that are made of anything but lettuce when the bear returns?!
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Replies (15)
Morning Jeff, like when the UK Gov nationalised RBS bank to stop it failing… then sold it at 20% of the value?
Wouldn’t surprise me.
The ability to backstop a big price drop by printing currency *might* make a difference 🤔
GM brother
What is it they say?
"USDs my favourite currency"
They don't seem to mind their shit falling in value.
I think governments that adopt it will likely hold even when the bear returns, but all these public companies "adopting" bitcoin will likely try and sell the top or lettuce hands in the bear for sure
GM, I don't think this is going to happen yet. We need 1m a coin. Maybe some smaller countries which can allow to be independent yes, but the big ones like USA, China, Russia, etc. I doubt that.
GM JeffG ... nothing in my opinion ... but if they understand bitcoin, they will try to force the bear market to get more coins with their freshly printed money
GM! ☕ ☀️ 🫂 they just need to put rules in so they can't touch it 😂
GM
Not to mention nation states purchasing bitcoin reserves is gonna be hard to beat next cycle. Not sure we can pump much harder than that.
GM
My view is it could be a super cycle but we shouldn't count on it. It also means plebs should be stacking as hard as possible so as many coins as possible are in our hands and not institutions.
Why sell your valuable assets when you could print more worthless fiat to pay your debts?
In the next bear market, some countries might sell their Bitcoin reserves again. Most will have to go through this cycle, especially groups of people.
I don’t think they’ll sell bitcoin for economic reasons (they can always extract more money from us, or print, in bigger amounts), but they will sell for political reasons when anti-bitcoin or even neutral politicians get elected. That could even cause a bear market.
GM Jeff!!!🐸