IF DONALD TRUMP’S sweeping global tariffs send household good prices soaring and drive the economy into recession, at least one industry could profit.
The Trump administration is considering using tariff revenues to buy Bitcoin for a “Strategic Bitcoin Reserve,” a top administration crypto official said in an interview last week.
The White House’s proposal is driving interest from crypto industry figures who have made building the reserve one of their top priorities.
It is uniting critics on the right and left, however, who have cast the reserve as a pointless industry giveaway that will come at the expense of ordinary taxpayers. Using tariff money would add insult to injury, they say.
They already freed up a bunch of seized bitcoin and called it a “reserve.” Wtf is government suppose to do with bitcoin? Buy mercenaries on the deep web?
I mean, Bitcoin is an appropriate currency to use as a reserve, that’s not misguided. The problem is that they can’t be trusted with access to the funds.
With bitcoin basically a stand in for the dollar these days, what would the purpose of that be?