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Crypto Report
Curious your thoughts of any possibility that the US government could buy such a sizable portion of bitcoin that they could end up manipulating and controlling it.
This possibility has been discussed at length over the years. while one could buy up a sizable amount of bitcoin, long term holders of bitcoin make up a substantial percentage. They are unlikely to all sell it at once to any buyer as the nature of market dynamics would suggest this to be highly improbable. It is akin to saying what if the U.S. government wanted to buy up all of Apple Computer? The price would spike, but long term holders of AAPL would not necessarily be sellers.
First published: 28 Aug 2020
Last updated: 28 Aug 2020