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US Should Fund Bitcoin Buys With $2 Trillion Bit Bonds, Says Newmark Group CEO
In a bold proposal, the Chief Executive Officer of Newmark Group, Barry Hohns, has suggested that the US government should issue $2 trillion in “BitBonds” to fund the purchase of bitcoin. The idea, presented at the Bitcoin for America event, could have far-reaching implications for the Treasury market and potentially benefit American households.
Hohns believes that such a move could bring down borrowing costs for mortgages, auto loans, and small business financing by replacing traditional government bonds with digital assets like bitcoin. He emphasized that this innovative approach would not only provide a new source of funding but also allow everyday Americans to build wealth.
According to Hohns’ proposal, 20% of the $2 trillion issuance could be allocated to individual American households, allowing them to participate in the growth potential of the bitcoin market. Each family’s share, estimated at approximately $2,900, would be exempt from income tax and capital gains tax, effectively providing a tax-free investment opportunity.
The CEO of Newmark Group framed this idea as a “win-win-win” scenario, highlighting the benefits for government finances, small businesses, and American families alike. He noted that if only 20% of the $2 trillion issuance were allocated to households, it would have a significant impact on the Treasury market and potentially ripple through the rest of the market.
While Hohns’ proposal is still in its conceptual phase, it has garnered attention from attendees at the Bitcoin for America event. The idea challenges traditional financial norms by introducing a digital asset as a new investment opportunity and potential tool for economic growth.
Source: https://bitcoinist.com/us-should-fund-bitcoin-buys-2-trillion-bit-bonds/
