Would any government in crisis consider storing their cash in bitcoins? - page 2.

aso118

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Quote from: Captimiz on August 14, 2017, 12:15:37 PM

By simply storing their existing wealth into BTC by converting it. Will also mean their wealth is more secure and hyperinflation doesn't hurt them?

Also, how would something like this affect price.

A government in crisis doesn't have much wealth left. And the cash that they have is worthless, because of the massive printing of money. Actually printing more money is the only way they can postpone the crisis from exploding in their face.

Captimiz

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I mean like what would happen if a major government was to start doing it?

Raifort

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I am sure some are already doing it, I am also believing North Korea is mining Bitcoin.

However in most cases that would not affect the price much considering they are somehow poor.