Will the US Government Go Full Crypto? Bloomberg Says 30% Chance

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So, apparently Bloomberg thinks there’s a whopping 30% chance that the U.S. government might, just might, dip its toes into the world of Bitcoin this year. That’s right, the same government that still can’t figure out how to update its website might start buying Bitcoin. Hold onto your hats, folks. 🎩💸

Now, in the *unlikely* event this actually happens, the U.S. could fund the purchase using the Exchange Stabilization Fund (ESF)—aka the pool of cash that usually helps with foreign reserve intervention. Because, obviously, buying Bitcoin makes perfect sense when you’re trying to stabilize the exchange rate, right? 🤔

Bloomberg doesn’t see this going down anytime soon, though. In fact, they’re betting Congress won’t approve any BTC buying for at least the next two years. So, get ready for a whole lot of nothing happening in the crypto world… except for the usual price fluctuations, of course. 🧐

All Sizzle, No Steak

Remember that glorious day on March 6 when the U.S. made its big executive order to create a Bitcoin reserve? Yeah, well, it sounded amazing at the time… but let’s be real, it was a total flop. The Bitcoin price actually dropped by 7% since the announcement. Talk about a buzzkill. 🥴

The Bitcoin “reserve” will hold coins forfeited by the government—because, apparently, that’s the new way of saying “we already own these coins, but now we’ve given them a name.” Some people in the crypto community are, understandably, a little salty about this. Can’t blame them, honestly. 😬

Even the Treasury Secretary, Scott Bessent (who’s pro-crypto, by the way), had some words about it earlier this month. He said stopping the U.S. from selling Bitcoin should be Step One, and didn’t rule out the possibility of the U.S. government actually buying Bitcoin. Oh, so now it’s *maybe* happening? Cool, cool. ⏳

The U.S. government’s Bitcoin stash is a bit of a mystery, but insiders estimate it’s hovering around 200,000 BTC. But hey, don’t get too excited—they’ve probably got enough digital coins to make a “reserve,” but who knows if they’ll actually start doing anything with them. 🤷‍♀️

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2025-03-21 18:16