The question comes down to what the government would get out of the hoards of bitcoin it would be holding. It is failing to realize the market value, which it could apply to any number of other uses, from writing down the federal debt, to paying for other government programs.
Having the government act on behalf of citizens as some kind of investment trust or mutual fund doesn't make much sense.
The ambition to establish a bitcoin stockpile could come at a cost to most everyone else, particularly if the government were to expand its existing holdings.
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