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@ sourcenode
2025-03-07 00:39:33
The Bitcoin Strategic Reserve will keep bitcoin confiscated through the justice department, but won't purchase any.
Bitcoiners who live and die on NGU will surely be disappointed by this choice. Massive LARP signal from anyone who wanted the government to buy a million coins.
This structure creates an incentive for the government to confiscate more bitcoin. They may also allow tax payment in bitcoin.
Libertarians may be concerned about the confiscation risk, especially under a different administration.
As I see it battleground now is privacy, self custody, money transmission laws, and capital gains tax on bitcoin transactions.
In the long run, the less bitcoin the federal government holds the better.