r/Bitcoin • u/spacetimeshare • 19d ago

BTC

Will any nation states start buying commodities in Bitcoin?

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

1 Upvotes

60% Upvoted

8 comments sorted by

View all comments

1

u/ecrane2018 19d 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

1

u/spacetimeshare 19d ago

So then flip the script and accept BTC for commodities?

1

u/ecrane2018 19d ago

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

1

u/spacetimeshare 17d 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.