Establishment of the Strategic Bitcoin Reserve and US Digital Asset Stockpile
whitehouse.govSmall discussion (20 points, 6 hours ago, 6 comments) https://news.ycombinator.com/item?id=43286569
Related Trump announces strategic crypto reserve including Bitcoin, Solana, XRP and more (51 points, 5 day sago, 14 comments) https://news.ycombinator.com/item?id=43233455
This is a good example of using big words without any meaning. Total crypto valuation is less than $200 billion with incredibly low liquidity (= the ease with which an asset, or security, can be converted into ready cash without affecting its market price).
There is nothing strategic for holding digital assets. This is just cryptobro's getting rich.
Completely incorrect. The market cap of bitcoin alone is over $1.6T, and is an extremely liquid market.
If you don't understand why holding bitcoin is a crucial strategy for the future of any country, I'd urge to you to learn more about it, and the nature of money in general.
It seems I'm wrong with valuation it has surged.
> extremely liquid market.
No it's not. The value collapses every time there is sell side. Jumps every time there is little more than average demand.
> It seems I'm wrong with valuation it has surged.
Surged since when? 2019?!
> No it's not. The value collapses every time there is sell side. Jumps every time there is little more than average demand.
That's not liquidity. That's volatility - otherwise known as price discovery - completely natural in a young extremely fast-growing asset. It continuously gets over-bought and then over-sold as it continues along it's exponential path of overall growth.
Just looking at Coinbase, its BTCUSD pair alone has a trading volume of ~$1B/day. How much liquidity do you want?
Similarly, may I urge you to learn more about all the risks and issues coming with bitcoin?
I've been studying their theories pretty much every day for the last 4 years. Perhaps you could be more specific?
I will gladly educate.