For the taxpayer, the purpose of such an initiative is obscure. The crypto industry is a hyper-speculative casino. It is not essential to the American financial system, nor are cryptocurrencies essential to the American public. Workers cannot put bitcoin in their gas tanks; parents cannot feed XRP to their kids; businesses do not need cardano to build roads, light cities, produce vaccines, or provide loans to homeowners and entrepreneurs.
Yet for the White House, the purpose is obvious. Trump’s commerce secretary, his AI and crypto czar, and several of his most influential policy advisers are crypto investors, and the president launched his own meme coin. Establishing a reserve would boost prices, enriching these public officials and the crypto magnates donating tens of millions of dollars to Republican campaigns. It would not be a public investment, but a private giveaway—one of a mounting number in the Trump era.
What about when Canada cuts off the energy supply and you’re dealing with rolling brownouts?
it’s easier to protect, transfer, and sell in a stable society. When you’re dealing with periods of instability, you’re facing the kind of crises that may may it difficult to even access the coin at all. If for whatever reason you can’t get online, because of the kind of disruptions Trump is causing, it ceases to be so effective.
Bitcoin relies deeply on functioning infrastructure which is exactly the kind of shit Trump is trying to tear down.
This an extremely privileged attitude. Try living in a country with only a few hours of power a day that is tightly regimented out to citizens, and see how useful crypto is.
Because for real, with the instability Trump is bringing, the US could end up in that boat a lot faster than you think, especially with its aging, failing power grid.