MSNBC’s Hayes: Proposed Bill Could Transfer $100B From Taxpayers To Bitcoin Owners
On a recent episode of MSNBC’s All In, host Chris Hayes said that a Senate bill could potentially result in a $100 billion transfer from taxpayers to Bitcoin owners.
What Happened: The bill, proposed by Sen. Cynthia Lummis (R-Wyo.), calls for the U.S. Treasury to acquire one million Bitcoins over a span of five years, with a holding period of at least 20 years.
Given the current Bitcoin trading price of $100,000, this acquisition would amount to $100 billion.
Hayes drew attention to the fact that Republican lawmakers have received substantial campaign contributions from cryptocurrency advocates, who are now looking to reap the benefits of their investment.
“They want a bailout – implicit or explicit – if the house of cards crashes down. To that end, after Republicans took back the Senate with the …
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