Mason / @MasonFoard:
RT by @MasonFoard: Brazil just reintroduced a bill to acquire up to 1M BTC over 5 years.
At ~$66K/BTC,
- that’s roughly $66B
- about 21% of their ~$315B in foreign reserves
- and 1,000,000 BTC = ~5% of the total supply…for one sovereign.
Not to mention Brazil holds ~80% of its reserves in USD denominated assets. So no, they’re not proposing to sell Treasuries, but they ARE proposing to hedge their concentration in them. That’s the tell.
Sovereign bitcoin accumulation is on the legislat...
RT by @MasonFoard: Brazil just reintroduced a bill to acquire up to 1M BTC over 5 years.
At ~$66K/BTC,
- that’s roughly $66B
- about 21% of their ~$315B in foreign reserves
- and 1,000,000 BTC = ~5% of the total supply…for one sovereign.
Not to mention Brazil holds ~80% of its reserves in USD denominated assets. So no, they’re not proposing to sell Treasuries, but they ARE proposing to hedge their concentration in them. That’s the tell.
Sovereign bitcoin accumulation is on the legislat...
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