CMV: The proposed Strategic Bitcoin Reserve is just a thinly veiled transfer of taxpayer money to current bitcoin holders
Regarding the proposed strategic bitcoin reserve:
And so much for the idea that bitcoin is supposed to free the financial system from the government. After the government spends all that taxpayer money buying bitcoin and becomes a large holder of it, it can manipulate the price through transactions on the open market ... open market operations. Hmmm, that's beginning to sound like a central bank.
This is all just a grift by the new administration to reward cryptobros and cryptovangelists for their support during the campaign. They went hard for him just because the previous administration was more bitcoin-skeptical.