{"id":144375,"date":"2024-12-10T11:00:12","date_gmt":"2024-12-10T09:00:12","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=144375"},"modified":"2024-12-10T01:47:58","modified_gmt":"2024-12-09T23:47:58","slug":"economist-urges-u-s-government-to-sell-bitcoin-holdings-citing-potential-economic-benefits","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/economist-urges-u-s-government-to-sell-bitcoin-holdings-citing-potential-economic-benefits\/","title":{"rendered":"Economist Urges U.S. Government to Sell Bitcoin Holdings, Citing Potential Economic Benefits"},"content":{"rendered":"<p>Popular <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a> <\/strong>critic Peter Schiff <strong><a href=\"https:\/\/x.com\/PeterSchiff\/status\/1866160814811476110\">believes<\/a> <\/strong>that selling off the country&#8217;s BTC reserves would also put an end to discussions about creating a &#8220;Strategic Bitcoin Reserve,&#8221; a concept proposed by former President Donald Trump. This action, he argues, would prevent future complications for the next administration and ensure that campaign promises about not selling government-held Bitcoin remain intact.<\/p>\n<p>These remarks come after the economist warned that Bitcoin could potentially harm the U.S. dollar, contributing to inflationary pressures and leading to a destabilizing financial bubble. Schiff contends that the government\u2019s further Bitcoin acquisitions could lead to the squandering of national wealth.<\/p>\n<p>However, despite these concerns, efforts are underway to create a U.S. Bitcoin reserve. Senator Cynthia Lummis has introduced the &#8220;Bitcoin Act of 2024,&#8221; which would authorize the government to accumulate up to 1 million BTC over the next four years. This legislation could move forward even if the Biden administration sells its current holdings.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/peter-schiff-calls-bitcoin-a-national-security-threat-sparking-debate\/\" title=\"Peter Schiff Calls Bitcoin a National Security Threat, Sparking Debate\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/peter-schiff-on-btc-240x170.jpeg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Peter Schiff Calls Bitcoin a National Security Threat, Sparking Debate<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>At present, the U.S. government controls over 198,000 BTC, valued at roughly $19 billion, and recently moved $1.9 billion worth to a new address, fueling speculation about possible sales. Nevertheless, legislative proposals like the Bitcoin Act suggest that the government\u2019s involvement in Bitcoin could continue regardless of these moves.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A popular economist has recently proposed that the U.S. government should liquidate its entire Bitcoin holdings, suggesting that this move could help reduce the 2024 budget deficit.<\/p>\n","protected":false},"author":9,"featured_media":32590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[],"class_list":["post-144375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Economist Urges U.S. Government to Sell Bitcoin Holdings, 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