IF DONALD TRUMP’S sweeping global tariffs send household good prices soaring and drive the economy into recession, at least one industry could profit.
The Trump administration is considering using tariff revenues to buy Bitcoin for a “Strategic Bitcoin Reserve,” a top administration crypto official said in an interview last week.
The White House’s proposal is driving interest from crypto industry figures who have made building the reserve one of their top priorities.
It is uniting critics on the right and left, however, who have cast the reserve as a pointless industry giveaway that will come at the expense of ordinary taxpayers. Using tariff money would add insult to injury, they say.
That’s one way to take make money…
Buy a bunch of personal bitcoin
Announce that the government is buying a ton of bitcoin
Wait for the value to surge
Sell your bitcoin at the new inflated value
You forgot the part where they take all the government purchased Bitcoin and cash that out to personal accounts.
They could literally steal billions of dollars this way… It’s terrifying.
There is no point to taking the extra strep of buying Bitcoin when they steal government funds to personal accounts.
If they’re already doing that, sure. Though that is harder to cover the tracks of.
Whoa whoa whoa whoa whoa… “COULD”??? We both know that they WILL do that, given the chance. The Fash Trash are opportunistic parasites, after all.
They already freed up a bunch of seized bitcoin and called it a “reserve.” Wtf is government suppose to do with bitcoin? Buy mercenaries on the deep web?
I mean, Bitcoin is an appropriate currency to use as a reserve, that’s not misguided. The problem is that they can’t be trusted with access to the funds.
With bitcoin basically a stand in for the dollar these days, what would the purpose of that be?