The U.S. government's new strategic reserve: Billions in seized crypto

[Yo_Mama_Been_Loggin]

President Donald Trump signed an executive order in March that boosted the spirits of cryptocurrency investors - and created a digital money mystery.

Trump directed the treasury secretary to create two national stockpiles of crypto assets, putting digital currencies alongside gold, foreign currencies and other assets in the U.S. reserve.

The assets are to include crypto seized by federal agencies in criminal or civil proceedings. But the government has not disclosed how much bitcoin, or which other crypto coins, it holds.

New data on what crypto cash the U.S. government has seized may now provide some answers. It suggests the crypto reserves will together hold more than $21 billion in cryptocurrency.

https://www.yahoo.com/news/u-government-strategic-billions-seized-141202066.html

Crypto is money laundering. Other than that, it has no value.

[Lovie777]

1. Effing with dollars....

[taxi]

2. Granted, sometimes I'm slow, and sometimes I'm slower than that.

I'm so slow that it is my belief that the only value I see in crypto is the value that the holders of the crypto are willing to pay to keep their crypto. But that makes no sense. No one is willing to pay to keep value in their crypto, the only value is what they are willing to get rid of it for. Now comes the day where a major holder of crypto decides to cash out, which causes the price to drop. This major owner doesn't care - it is worth whatever he can get for it. The early shares are sold at higher prices than the later shares, but the owner doesn't care. He is out. Moving along now, the position of the government's holdings is reduced by the amount of the drop in price. How does this not affect the government's ability to pay its debts and what happens to our already downgraded credit rating? I just don't get it.

[Buns_of_Fire]

4. The "bigger fool" theory writ large.

Our mission, should we decide to accept it: Try not to be the biggest fool.

[taxi]

6. Hehe, and yet, Here we go!

A fool is in place, and there are no bigger fools to be found.

[in2herbs]

3. In some ways crypto reserves are the same as the stock market. Stock has no resale value unless

there is a purchaser willing to pay more for it than it originally cost to purchase. Private REITS and other offerings have no value and don't allow resale unless the purchase is approved by the original owner, not the current owner.

Crypto, private REITS and other such offerings are all the same -- a way of money laundering.

[taxi]

5. Interesting. That makes perfect sense.