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Here’s How The US Could Buy Bitcoin In A ‘Budget-Neutral’ Way: Experts
In a recent development, President Biden signed an Executive Order that has left many wondering how it will impact the US government’s potential purchase of bitcoin. While some may be quick to dismiss the idea as impossible, experts argue that there are ways for the US to buy BTC in a “budget-neutral” manner.
First and foremost, it is crucial to understand what this means. In simple terms, budget neutrality refers to a situation where the federal government spends no new money on a particular initiative or program, thereby avoiding any financial burden or strain on its finances.
According to Bit Paine, a well-known commentator in the crypto space, there are viable options for the US government to do just that. He pointed out that the US has already set aside billions of dollars in various funds and accounts, which could be utilized without any need to re-allocate existing budgetary resources.
In a more emphatic aside, Bit Paine also drew attention to Howard Lutnick, Commerce Secretary, who has been open about his own Bitcoin investment. Lutnick’s firm, Intercontinental Exchange (ICE), holds a significant amount of MicroStrategy (MSTR) shares, further solidifying the idea that there are influential voices within the administration advocating for BTC adoption.
David Zell, another prominent figure in the space, emphasized the need for congressional action to support the purchase. His sentiment was echoed by Congressman Nick Begich, who has been a vocal supporter of Bitcoin and hinted at upcoming legislative efforts.
While some experts like Bit Paine have highlighted potential budget-neutral methods, others believe that the US government’s involvement is essential to create a comprehensive framework, ensure regulatory clarity, and guarantee the stability of such an investment.
Source: https://bitcoinist.com/how-us-could-buy-bitcoin-budget-neutral/
