Topic: North Carolina is pushing forward a bill to study holding Bitcoin - page 2. (Read 261 times)
This is like investment 101 bill. At least, the NC legislators are trying to help their people get educated in money matters. Not a lot of government entities want their people to get educated in investments and all that stuff, because if they do, they'd surely put some initiatives that tackle about investments and how to be financially literate in schools. I say that this bill is actually quite helpful if anything, especially if it's taught in schools as the kids are growing up.
What could the purpose of the study after that but to determine whether it's beneficial for the state, Ofc it's beneficial. It's beneficial to an individual and will it be for a state.
If a state is going to buy BTC, they will make the purchase with public funds, so it is a difficult decision to take with a heavier impact if it does not work out the way they wanted it, so that is why the study is important. The lawmakers know that whatever decision they take will have an impact on the entire state, that's why they have to be very careful. Even before an individual buys BTC, they are advised to do their research, that research is the purpose of this study by North Carolina.
What could the purpose of the study after that but to determine whether it's beneficial for the state, Ofc it's beneficial. It's beneficial to an individual and will it be for a state.
If a state is going to buy BTC, they will make the purchase with public funds, so it is a difficult decision to take with a heavier impact if it does not work out the way they wanted it, so that is why the study is important. The lawmakers know that whatever decision they take will have an impact on the entire state, that's why they have to be very careful. Even before an individual buys BTC, they are advised to do their research, that research is the purpose of this study by North Carolina. 
I don't think that it's a good idea to do something like this because it's a fact that Bitcoin is way more volatile than gold, and the volatility could be the cause of huge gains or losses within shot period as compare to gold. The gold isn't that much volatile and that's why it many not lose or gain a lot of value in short period. This type of experiment will favor gold if the crypto market dumps, and it will only favor Bitcoin if crypto market pumps. Such type of studies will most probably favor gold as a less volatile and secure asset.
The result will most probably be in favor of gold because if this study is for short period, and unfortunately Bitcoin gets another dump in coming days then the value of their holdings that are in Bitcoin will be way lower than the ones they have in gold. Let's say if they have allocated $25k for gold and $25k for Bitcoin, and if an unsudden market crash takes place, and the value of Bitcoin goes back to $27k then the value of their holdings in Bitcoin will be $22,140, and that would be very low as compare to the holdings they have in gold.
The result will most probably be in favor of gold because if this study is for short period, and unfortunately Bitcoin gets another dump in coming days then the value of their holdings that are in Bitcoin will be way lower than the ones they have in gold. Let's say if they have allocated $25k for gold and $25k for Bitcoin, and if an unsudden market crash takes place, and the value of Bitcoin goes back to $27k then the value of their holdings in Bitcoin will be $22,140, and that would be very low as compare to the holdings they have in gold.
They may already have some BTC if they are starting to think it's going to benefit the state.
If you have been watching some BTC conspiracy theories behind BlackRock buying BTC, where they are saying that the financial institution is trying to take over crypto. It's not gonna be far fetch that states and countries are also going to be in the race to acquire BTC as well.
What could the purpose of the study after that but to determine whether it's beneficial for the state, Ofc it's beneficial. It's beneficial to an individual and will it be for a state.
If you have been watching some BTC conspiracy theories behind BlackRock buying BTC, where they are saying that the financial institution is trying to take over crypto. It's not gonna be far fetch that states and countries are also going to be in the race to acquire BTC as well.
What could the purpose of the study after that but to determine whether it's beneficial for the state, Ofc it's beneficial. It's beneficial to an individual and will it be for a state.
Holding of 50k$ in BTC to examine the volatility in comparison of Gold. Does not looks like a good comparison in specific property of volatility but if they compare them in terms of hedge against inflation, scarcity, demand, supply, profit and loss ratio them I am sure they will find BTC a winner.
But things can change if BTC will go down in coming days and what if they went into loss, like will they ban Crypto fully in their state. Like in the month of March 2023, there were several restriction on crypto. It would also result as a good factor to increase the BTC price too in future if BTC win the battle against gold in their organized competition.
But things can change if BTC will go down in coming days and what if they went into loss, like will they ban Crypto fully in their state. Like in the month of March 2023, there were several restriction on crypto. It would also result as a good factor to increase the BTC price too in future if BTC win the battle against gold in their organized competition.
It's pretty meh — it's just a study, like funding a thesis paper on bitcoin and digital currencies. It's not a bill that North Carolina will start holding bitcoin or something like that. Probably good(even when just slightly), but nothing close to major.
But whatever. Baby steps, I guess?
But whatever. Baby steps, I guess?
"On June 28, the North Carolina House of Representatives passed the bill which would commission a $50,000 study to examine “acquiring, securely storing, insuring, and liquidating” both gold bullion and “virtual currency [...] such as Bitcoin.”
This part of the article is very unclear. I study Bitcoin for free with so many resources most of which are free or require just a little payment.
Their interest is good but it is still very early to decide on what direction they would go as the bill is only for studying the possibilities. If it is positive they would have to pass another one to actually acquire it.
- Jay -
This part of the article is very unclear. I study Bitcoin for free with so many resources most of which are free or require just a little payment.
Their interest is good but it is still very early to decide on what direction they would go as the bill is only for studying the possibilities. If it is positive they would have to pass another one to actually acquire it.
- Jay -
The state house of North Carolina just passed a bill to study the idea of the state holding Bitcoin (as well as Gold).
https://cointelegraph.com/news/north-carolina-house-passes-bill-to-study-bitcoin-hodling
If this bill gets passed, and North Carolina does indeed start holding Bitcoin, that will be the start of what I see as inevitable - states/nations eventually holding bitcoin in reserve just as nations hold large amounts of gold in reserve. Hopefully they become the first state in the US to do this and others follow their lead. El Salvador of course has led the way for the world, but its good to see a US state starting to think about holding Bitcoin. States and nations will eventually join the race to accumulate bitcoin along with 'retail investors', the wealthy, financial firms, banks, and corporations.
https://cointelegraph.com/news/north-carolina-house-passes-bill-to-study-bitcoin-hodling
If this bill gets passed, and North Carolina does indeed start holding Bitcoin, that will be the start of what I see as inevitable - states/nations eventually holding bitcoin in reserve just as nations hold large amounts of gold in reserve. Hopefully they become the first state in the US to do this and others follow their lead. El Salvador of course has led the way for the world, but its good to see a US state starting to think about holding Bitcoin. States and nations will eventually join the race to accumulate bitcoin along with 'retail investors', the wealthy, financial firms, banks, and corporations.
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