{"id":27120,"date":"2024-08-20T00:00:25","date_gmt":"2024-08-19T21:00:25","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=27120"},"modified":"2024-08-19T18:21:09","modified_gmt":"2024-08-19T15:21:09","slug":"macroeconomic-expert-warns-us-government-could-misuse-bitcoin","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/macroeconomic-expert-warns-us-government-could-misuse-bitcoin\/","title":{"rendered":"Macroeconomic Expert Warns: US Government Could Misuse Bitcoin"},"content":{"rendered":"<p>Raoul Pal, a former Goldman Sachs executive, has expressed concerns about the potential implications of the US government accumulating millions of Bitcoin (BTC).<\/p>\n<p>At the recent <a href=\"https:\/\/coinengineer.net\/blog\/crypto-worlds-voice-grows-louder-ahead-of-u-s-elections-new-demands-arise\/\">Bitcoin2024<\/a> Conference, independent presidential candidate Robert F. Kennedy Jr. proposed that his administration would stockpile four million Bitcoin as a strategic reserve if elected. Additionally, Senator Cynthia Lummis introduced a bill aiming to encourage the US government to acquire one million BTC, or 5% of the total BTC supply, within five years.<\/p>\n<p><strong>Concerns about Government Manipulation<\/strong><\/p>\n<p>Macroeconomic expert Raoul Pal is wary of the potential behaviors the US government could exhibit if it amasses a significant Bitcoin reserve. In a conversation with Skybridge Capital founder Anthony Scaramucci, Pal highlighted the government&#8217;s historical tendency to misuse power and noted that possessing a large BTC reserve would grant the government immense influence over Bitcoin&#8217;s price movements.<\/p>\n<p>Pal stated, &#8220;Yes, it&#8217;s positive for the crypto market because there&#8217;s a new buyer, but it&#8217;s also strange because Bitcoin was created to change government control over money, and now you&#8217;re putting the government as one of the largest buyers of private money. I don&#8217;t really like that&#8230; If the government can manipulate this, they can release it into the market, buy more, and unwittingly turn Bitcoin into something they control like interest rates, and we don&#8217;t want that.&#8221;<\/p>\n<div>\n<div class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<div class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<div class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<div class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<p class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram<\/strong>,\u00a0<\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"kk-star-ratings kksr-auto kksr-align-center kksr-valign-bottom\" data-payload=\"{&quot;align&quot;:&quot;center&quot;,&quot;id&quot;:&quot;25907&quot;,&quot;slug&quot;:&quot;default&quot;,&quot;valign&quot;:&quot;bottom&quot;,&quot;ignore&quot;:&quot;&quot;,&quot;reference&quot;:&quot;auto&quot;,&quot;class&quot;:&quot;&quot;,&quot;count&quot;:&quot;0&quot;,&quot;legendonly&quot;:&quot;&quot;,&quot;readonly&quot;:&quot;&quot;,&quot;score&quot;:&quot;0&quot;,&quot;starsonly&quot;:&quot;&quot;,&quot;best&quot;:&quot;5&quot;,&quot;gap&quot;:&quot;5&quot;,&quot;greet&quot;:&quot;Rate this post&quot;,&quot;legend&quot;:&quot;0\\\/5 - (0 votes)&quot;,&quot;size&quot;:&quot;24&quot;,&quot;title&quot;:&quot;Scaramucci Predicts Bitcoin to Outpace Gold&quot;,&quot;width&quot;:&quot;0&quot;,&quot;_legend&quot;:&quot;{score}\\\/{best} - ({count} {votes})&quot;,&quot;font_factor&quot;:&quot;1.25&quot;}\">\n<div class=\"kksr-stars\">\n<div class=\"kksr-stars-inactive\">\n<div class=\"kksr-star\" data-star=\"1\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Raoul Pal, a former Goldman Sachs executive, has expressed concerns about the potential implications of the US government accumulating millions of Bitcoin (BTC). At the recent Bitcoin2024 Conference, independent presidential candidate Robert F. Kennedy Jr. proposed that his administration would stockpile four million Bitcoin as a strategic reserve if elected. Additionally, Senator Cynthia Lummis introduced<\/p>\n","protected":false},"author":1,"featured_media":25480,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[61,7997],"class_list":["post-27120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-news","tag-bitcoin","tag-macroeconomic"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Macroeconomic Expert Warns: US Government Could Misuse Bitcoin - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/macroeconomic-expert-warns-us-government-could-misuse-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macroeconomic Expert Warns: US Government Could Misuse Bitcoin - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Raoul Pal, a former Goldman Sachs executive, has expressed concerns about the potential implications of the US government accumulating millions of Bitcoin (BTC). At the recent Bitcoin2024 Conference, independent presidential candidate Robert F. Kennedy Jr. proposed that his administration would stockpile four million Bitcoin as a strategic reserve if elected. 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