Oddbean new post about login | logout What is this good for though? Will they sell their BTC and "realize" the "profits" -- and be out of BTC? Is the BTC on their portfolio taken into account as far as the country's solvency goes, for instance if they want to issue debt, or take a loan from the IMF? The fact that they accumulate BTC for the future is great in itself. Keeping count of the "profits" not so much. nostr:nevent1qqstmanhm4xedk52z42vwrdajtqee6t0htvgqg9m0683w8th2eaezlgw6prq7
It's an asset on the account sheets. We're still in a dollar denominated world, but, if that ever flips, El Salvador will be one of the richest nations in the planet. They don't need to do anything with it other than HODL so they don't end up looking stupid like Germany.
Is that so? That was my question. Is it REALLY an asset on the sheets that they can count to get a loan or issue debt without liquidating?
I think people want to be able to point a finger somewhere and say “if it works for them it’ll work for you”.
profits should motivate other countries to replicate. That a country did this is different from a theory about what to expect if it was done.
Well why does anyone buy Bitcoin? To conserve monetary value and to sell for stuff in your time of need Same here in sure 🧡
For me that would only be plan B (or C), since that's the way of the poor. Plan A, the way of the rich, is to borrow fiat against my BTC holdings, without ever liquidating them, to acquire assets that generate cash flow.