Oddbean new post about | logout
 🇺🇸 America, you are about to make one of the worst single largest monetary mistakes in US history. Don’t sell the 30,000 #Bitcoin. Don’t do it! 
 Sadly it represents 1/177th of 1% of the US national debt. Not even a rounding error. 
 The crucial issue is that there will be, or should already be occurring right now, a rush for #Bitcoin by governments. The thing is, it wouldn't be good if 🇨🇳 #China held more #BTC than 🇺🇸 #America. Can you calculate the cost of the error when putting 2B in Bitcoin for sale? 
 I agree with your assessment that governments *should* be stacking BTC, but the reality is that they can’t. Any imprimatur given to competing currencies like #bitcoin is an acknowledgment that fiat is flawed.  And they can’t have that, sunken cost fallacy etc. I wouldn’t get too upset about the 30k BTC. Wouldn’t buy more than 5 F22 Raptors at current prices. 😁