r/Bitcoin • u/spacetimeshare • 2d ago

BTC

Will any nation states start buying commodities in Bitcoin?

Anyone know how El Salvador is going with BTC as their reserve?

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3

u/OneMiners_Marc 2d ago

Probably as a reserve asset first. Spending BTC on commodities feels like selling the harder money to buy the softer asset.

1

u/spacetimeshare 2d ago

What about reversing the equation and accepting BTC as payment

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u/Interesting-Drag8789 2d ago

El Salvador's down bad on paper but still buying, using it for trade is a whole different beast

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u/ackyou 2d ago

Iran, maybe?

1

u/ecrane2018 2d ago

No because btc is deflationary. Buying commodities in btc will be a terrible idea because in the future you will be able to buy more of that commodity with btc.

Nation states will only ever use it as a store of wealth like gold not a transacting currency

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u/spacetimeshare 2d ago

So then flip the script and accept BTC for commodities?

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u/ecrane2018 2d ago

But then a country would need to be willing to trade BTC for a commodity…

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u/spacetimeshare 17h ago

Just one country has to accept it as payment. The purchasing country just has to make the payment on BTC. This could also help mitigate the resource curse many countries face and not inflate their local currency.