The Genie
AI summary of the linked articleThe author argues that a US Bitcoin Strategic Reserve and a broad crypto regulatory bill would be net negatives for the industry, because a government stockpile could be sold for political reasons and rules favoring large centralized firms would entrench incumbents. The essay names Senator Lummis as suggesting the government buy one million Bitcoin. It argues that the dollar system's next reserve asset must be neutral, since China has stopped accumulating US treasuries, with Chinese treasury holdings falling by $14 billion over the last twelve months of public data. |
1 comment  timSubmitter it seems that folks who own large stakes in centralized crypto financial intermediaries are most likely to have their crypto regulatory wishes granted due to the amount of noise they generate. Unfortunately, those building truly decentralized tech and applications do not have the financial resources to play politics at this juncture of the cycle |