Used government money to do what?
And no, his ‘explanation’ is false. He openly said it was an investment into the Argentinian economy, and it wasn’t. He is the president, not some guy on the street. Due to that ppl trusted him. That trust was broken. It ‘could’ be argued that he “didn’t know it was a rug pull in the making” but I’m not sure if that’s less a problem tbh.
As for a gamble, I agree it’s irresponsible for most ppl, but there are many ppl who are actually not financially literate, that went by the trust of the president of a country.
If a president offers investment opportunities, you don’t expect it to end the way it did.
Meanwhile, what exactly did Bukele steal? Explain that part
Replies (1)
The way I read Voskuil’s comment is that Bukele used state resources to acquire Bitcoin for the “dictator”-ship, whereas Trump and Miele did not use government resources *and* investors knew the risk.
Bukele has supreme power to do whatever he wants, whether the people like it or not. Just because he acquired Bitcoin and Bitcoin seems inherently “good” seems irrelevant to Voskuil, and likely is. Perhaps your perspective would be different if Bukele had acquired Ripple instead.
This does align with what I’ve heard about the checks and balances in the US Reserve system, Trump cannot legally reserve Bitcoin on the Federal level without specific legal approval as it could compromise the Dollar.
Don’t hate on me for providing my interpretation. I’ve read lots of Eric’s stuff and he’s not often wrong, so it’s worth digging deeper into his thought process, because he goes deep.
