Ramazan Eles 
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 a bill aiming to encourage the US government to acquire one million BTC, or 5% of the total BTC supply, within five years.
Concerns about Government Manipulation
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’s historical tendency to misuse power and noted that possessing a large BTC reserve would grant the government immense influence over Bitcoin’s price movements.
Pal stated, “Yes, it’s positive for the crypto market because there’s a new buyer, but it’s also strange because Bitcoin was created to change government control over money, and now you’re putting the government as one of the largest buyers of private money. I don’t really like that… 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’t want that.”