I’ve said it before, and I’ll say it again. Russia probably has a shitload of BTC to get around sanctions, and are going to rug this stupid Bitcoin reserve.
Why? Because a whole bunch of it is locked up somewhere? That’s already the case for bitcoin. Only a tiny fraction of the total supply actually moves. The vast majority is either in abandoned or lost wallets, or being held.
Wouldn’t this give it stability?
I’ve said it before, and I’ll say it again. Russia probably has a shitload of BTC to get around sanctions, and are going to rug this stupid Bitcoin reserve.
Why? Because a whole bunch of it is locked up somewhere? That’s already the case for bitcoin. Only a tiny fraction of the total supply actually moves. The vast majority is either in abandoned or lost wallets, or being held.
That’s not what makes a currency stable. The Fed wouldn’t need to work so hard if that’s all it took.