Hacker News Reader

If the government holds seized bitcoin as opposed to selling it, that will tend to increase the price.

I guess that's why, though the government would then have an incentive to seize as much as it can legally seize.

It'd be one thing if the bitcoin was just thrown in a hole or destroyed. A strategic reserve is a financial asset though, the government will want to grow that fund to help fund pet projects while running a ridiculous deficit.

The government effectively prints money at will; it doesn't need bitcoin. This is an attempt by the current administration to curry favor with people who like bitcoin.

today the government prints money at will, that can change. They will be creating a new federal power with a strategic reserve, it will get abused eventually.

Actually, this fund is THE money printer. Ever increasing in value, not directly usable but great for accounting. It can be used to balance real spending.

Reply on news.ycombinator.com