The Dark Money Plan To Spend Your Tax Dollars On Bitcoin

[Passages]

Fossil fuel operatives are pushing Trump and state governments to buy billions of a volatile cryptocurrency, jeopardizing taxpayer dollars and the environment alike.

Dark Money
Jan 17, 2025

ABitcoin advocacy group pushing President-elect Donald Trump to stockpile massive amounts of cryptocurrency and state-level efforts to do the same is run by fossil fuel operatives fighting to eliminate environmental regulations, including the author of the Project 2025 proposal to dismantle the Environmental Protection Agency.

If the group has its way, governments will use taxpayer dollars and workers’ retirement funds to buy and hold billions of dollars in largely unregulated, volatile assets that would boost energy demands and accelerate climate destruction.

By stockpiling Bitcoin, governments would boost legitimacy and demand for Bitcoin, likely contributing to a massive increase in Bitcoin prices — and forcing taxpayers to foot an ever-larger bill. Such a price surge would offer major payoffs for the small group of people who own the majority of Bitcoin, the first and most recognizable kind of cryptocurrency. Just 2 percent of accounts own more than 90 percent of the total Bitcoin currently in circulation.

One prominent crypto-enthusiast predicts that if the federal government were to adopt a Bitcoin reserve, it could drive the price of a single Bitcoin to more than $1 million, nearly 10 times its current valuation.
https://www.levernews.com/the-dark-money-plan-to-spend-your-tax-dollars-on-bitcoin/

One thing Trump and his cronies all agree on is theft.

[Norrrm]

1. He will most assuredly want to buy his own crypto with America's gold reserves.

Should the US Gov't invest in/purchase massive amounts of crypto with taxpayer 'real' money?

Every legislator approving this should be made to invest half their family's life savings in the very same crypto to show their confidence in it.

[Passages]

2. I agree and we were warned:

Joseph Stiglitz: Bitcoin ought to be outlawed

The World Economic Forum
https://www.weforum.org › stories › 2017/11 › joseph-...
Nov 30, 2017 — Nobel prize-winning economist Joseph Stiglitz has said the cryptocurrency 'doesn't serve any useful function'.