Hi, Shrewd!        Login  
Shrewd'm.com 
A merry & shrewd investing community
Best Of BRK.A | Best Of | Favourites & Replies | All Boards | Post of the Week!
Search BRK.A
Shrewd'm.com Merry shrewd investors
Best Of BRK.A | Best Of | Favourites & Replies | All Boards | Post of the Week!
Search BRK.A


Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
Unthreaded | Threaded | Whole Thread (1) |
Author: EVBigMacMeal   😊 😞
Number: of 12535 
Subject: FT The delusions behind a bitcoin strategic reserv
Date: 11/23/2024 9:21 AM
Post New | Post Reply | Report Post | Recommend It!
No. of Recommendations: 21
“A long-term bet on bitcoin is bullish on the permanent collapse of all institutions, everywhere. It’s a nuclear put.

A bitcoin reserve would serve exactly one strategy. A Treasury with a million bitcoin would be trapped by its own portfolio. Congress could never exercise monetary sovereignty by limiting bitcoin mining or trading, because the price of the Treasury’s own assets would immediately collapse. The strategic bitcoin reserve is not a resilience strategy for the US. It’s a resilience strategy for the hodlers.”

What concerns me most about the current crypto frenzy, is if the US actually does make it more legitimate: the consequences of making the US weaker. The Trump, Musk era will pass but they can do a lot of damage and maybe some good. I don’t really know what will happen but what if they create such an incredible cocktail of corruption, debt and bubble that eventually collapses and this time the government can’t bail it out for whatever reason. We all remember how close we came to a total financial collapse in 2008. Hopefully there are enough checks and balances to limit the craziness.

Tail hedges have never been more relevant or important…


Post New | Post Reply | Report Post | Recommend It!
Print the post
Unthreaded | Threaded | Whole Thread (1) |


Announcements
Berkshire Hathaway FAQ
Contact Shrewd'm
Contact the developer of these message boards.

Best Of BRK.A | Best Of | Favourites & Replies | All Boards | Followed Shrewds