It’s interesting how people who aren’t American - like Willy here - don’t understand that the American government cannot just seize private property. This entire space hyperventilates, seethes and whines about EO 6102, because there is a pervasive extremely low IQ (saifedean-level) understanding of history wherein this is the only thing that has ever happened and it is highly likely to happen again. In fact, there’s an entire corpus of law regarding nationalizing companies. I will link to a summary below this post, but the bottom line is this isn’t going to happen again (Pdoom <0.00001). It’s insane to even think about it as anything more than the slightest tail risk. It’s also counterproductive: If you are seizing bitcoin, it’s because you think it’s valuable, but it is only valuable insofar as people can buy it and hold it as money. If the government signals that it’s just going to steal it from whatever entities legally own it then it ceases to have value - and everything you just seized becomes worthless. US citizens will not scramble to gain re-exposure to bitcoin - they would sell everything they own in a fire sale a it disruption of this scale signals that the government does not regard or respect it as private property. What do you think happens to BlackRock and their cash cow ETF? In what deranged insane part of your mind do you think that the United States government can go up against BlackRock and succeed? Your mental model of the United States government wherein it is some hyper-competent monolith is entirely wrong. It’s incredibly difficult for the government to do anything dictatorial. EO 6102 was a unique period of history. A very unique president. A fully aligned Congress and a fully aligned Supreme Court - and even then it only passed scrutiny by one vote. To be clear, it is a good thing to hold your own coins because the more distributed supply the more impossible it becomes to even contemplate something like this - and the less likely anyone will be ever to try. But it does not follow that this is something that you should be worried about - proposing it as a likely, or even remotely possible, course of action signals that you are a victim of your own indoctrination.
If I were to create a US strategic reserve, this would be my playbook. 1) Revalue the gold strategic reserve to market price, sell it for cash. 2) Nationalize MSTR, ideally when mNAV is low during a bear market, pay out all shareholders fair value. This is a bulk BTC purchase without driving up the BTC price. 3) MSTR holders would now need to scramble to buy back their BTC exposure, driving up the price exponentially. 4) Buy BTC with remaining cash. 5) Announce an X-prize style competition to the US private space industry to mine near-Earth asteroids for commodities. This puts long-term bearish pressure on gold strategic reserves to US competitors (China) and will drive a long-term rush for BTC which is stacked early by the US.
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