Is it possible for big companies/Uncle Sam to hoard BTC/crypto?

Discussion in 'Crypto Assets' started by kmiklas, Mar 30, 2021.

  1. kmiklas

    kmiklas

    So with big companies, PayPal, Goldman, Tesla, et alia buying/accepting, is it possible for them to gradually accumulate get 51% or more? They never spend it, only accept.

    This would be a simple, easy way to deal with the crypto "problem."

    Along the same lines, imagine if Uncle Sam, with the Fed's cooperation, have a quiet mandate where all BTC must be exchanged for US dollars. They're pouring dollars into the economy anyway, why not like this? Then a vast sum will eventually end up on a USB stick in the US treasury.

    it. For example, someone uses BTC to pay for a pair of shoes on Amazon. The BTC in question is exchanged for USD, and it exits the system; it is never again spent.

    I hope they don't lose that USB key, like they did the moon landing tapes!
     
    Last edited: Mar 31, 2021
  2. tsznecki

    tsznecki

    Sure BTC to 1M. Get on board!
     
  3. Nobert

    Nobert

    Then what. A market cap as big as combined GDP of the third world countries.

    That would be something :confused:
     
  4. AbbotAle

    AbbotAle

    No, because nobody is going to spend $500billion to get to 51% at the present exchange rate.

    However, as many have said here, and continue to say, Bitcoin is worthless so if you wait Kmik, you might be able to buy that 51% for less than $100, and I'll buy the 49%.
     
  5. kmiklas

    kmiklas

    Ummmmmmmmm.... no it's not?