With everyone bullish on bitcoin and seeing no absolute end in site for it fall and to only keep moving higher and higher, with predictions from fidelity themselves of bitcoin 1 billion dollars for 1 single token not to far out in the future, why doesn't the the government today this very second place all social security funds and pension funds in bitcoin? This has to happen today, make it mandatory that all funds from social security and pension funds own all of bitcoin. What are we waiting for. Bitcoin is about to cross 100k and head to 500,000 and million. From there it's going to go parabolic to tens of millions for a single coin. They need to act on this immediately.
Don't think they want to do that. The stealing of the SS funds would be too obvious even for the dumbest American.
If all of the governments in the world except a few ones say "no, bitcoin is illegal and all exchanges need to be shut down NOW!!" and come up with their own digital currency to replace bitcoin and worse outlaws all cryptocurrencies, bitcoin will drop to $0 overnight, you know that? All of the big holders of bitcoin and all the cryptocurrencies will be quietly or loudly dumping their holdings and the value will be just $0 or close to $0. The only reason why all the cryptocurrencies have value is because everybody is in on it and is buying it to prop up the value. The cryptocurrencies themselves have no value; they are just methods of payments and speculative plays. Mark my words. NO government in the world will allow any cryptocurrency to get so big that it will replace the currency that it uses to manage everything. If one day it sees there is a need to have cryptocurrencies as the currency, it will just come up with its own digital currency.
Bitcoin has been amazing. It's just a "string of numbers" that people have come to believe in. (How logical is it to pay $90,000 for a mere "string of numbers" in this computer/digital age?) Perhaps I'm old school... I understand bartering ammunition or food for whiskey... value in that for sure. Gold has always been valued because of it's beauty and scarcity. Fiat currency has been valued by the issuing authority's ability to tax its citizens to honor obligations. But crypto? Its "value" is the greater fool concept. That is, one owns crypto because he believes others believe as he does.. that he can sell it at a higher price to someone else... simply on belief in its worth... that the "string of numbers" is actually WORTH something? Doesn't that describe the great tulip bubble?? Then again... fiat money that a government can print at will questions the entire concept of it as a currency. BTC has at least "one leg up" on that notion. BTC is a "thing" for now. I doubt it's the "be all/end all" excited crypto believers hope it is. (Sugar plumbs dancing in their collective heads, you know.)
I use to believe that no major government would adopt crypto currency as their default currency. Why would they spend money buying bitcoin when they could just issue their own digital currency? But with Trump you never know. He is a man who has convinced himself that China is paying for tariffs, and that Mexico will pay for building a wall. He could easily convince himself that buying Bitcoin would be could for the USA.
Well in my IRA the bitcoin+proxies has grown from 8% to 40% thanks to the crazy moves in MSTX CONL BITX. I bought MSTX at $18.75, it hit $191.30 today. Crazy action.