Governments are looking to buy Bitcoin, NYDIG CEO confirms

[ene1980]

And it is own by the Government of Singapore, and we all know that Singapore is one of the most crypto friendly countries. Interesting to see how much they are willing to invest on bitcoin though, it said they manage a net portfolio of $306 billion, that's huge, but I speculate that they could be just testing some grounds on bitcoin and could be investing in millions initially.

I have not heard much about Singapore even though i heard it has some liberal laws when it comes to cryptocurrency market but i did not know that the government is investing in bitcoin and if that is the situation they might be the first government to publicly invest in bitcoin and if they have a net portfolio of $306 billion then they have invested a few billions in the cryptocurrency market as well.

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[aoluain]

wondering how the price will change?

The article has been posted on the 25th and a day after it, it pumped. Maybe it is one of the reasons?? Maybe not.

Either way, the fact that Bitcoin is decentralized therefore it can be used by anybody is enough reason to say that the Governments aren't an exception with this and they can buy it anytime they want. Its just good that some of the governments are fully supporting it and I hope that there will be more governments that will support and buy it.

With this article, we may see anti - Bitcoin governments change minds? Or not . Lets see if this will create a domino effect too like in the institutions.

The reward versus the risk will, if it isnt already, will be far greater that more governments
will look to acquire Bitcoin.

The singaporean government are able to examine and look past the fact that the Bitcoin
network is decentralised and open source to make their decision to buy.

While Bitcoins advantages are being realised by many its perceived risks are diminishing.

[JohnBitCo]

Governments are looking to buy Bitcoin, NYDIG CEO confirms https://cointelegraph.com/news/governments-are-looking-to-buy-bitcoin-nydig-ceo-confirms just so much good news

Currently we have institution fomo where institution are investing in bitcoin one after the other. However in future, we will have countries and government  fomo into bitcoin which will be real adoption of bitcoin. We will get these news more often now that more and more govt. and institutions are buying bitcoins.

[aysg76]

Governments are looking to buy Bitcoin, NYDIG CEO confirms https://cointelegraph.com/news/governments-are-looking-to-buy-bitcoin-nydig-ceo-confirms just so much good news

With more and more public companies like Tesla and MicroStrategy holding btc in their balance sheet many more companies are moving on to the same path seeing their profits growth.These institutional investors have huge funds in their assest management and investing a small portion does not matter to them and which will give them huge retuns.This company is backed by Singapore government which is major crypto friendly country from the start of its origin and they are trying to invest Sovereign funds into Bitcoin.Temsek have almost $306 billion under its assest management and they have not yet disclosed the amount they are planning to invest in Bitcoin at current.But surely this will lead to some price surge in Market because they will Invest minimum million dollars into market.So let's wait for that time.

[Lucius]

It would be really foolish to assume that various governments around the world have not already done so, perhaps not directly, but certainly through some companies over which they have complete control. But don't expect any government to make it public, because governments, like large companies, have no interest in inflating the price more than they do now - even though they have a mechanism called a money-printing machine that activates as needed.

I personally would be in favor of governments not realizing how important BTC is for at least another 10 years, because that way the distribution would be much fairer - more for the little people, less for the greedy rich at the top of the pyramid.

[Yaunfitda]

And it is own by the Government of Singapore, and we all know that Singapore is one of the most crypto friendly countries. Interesting to see how much they are willing to invest on bitcoin though, it said they manage a net portfolio of $306 billion, that's huge, but I speculate that they could be just testing some grounds on bitcoin and could be investing in millions initially.

I have not heard much about Singapore even though i heard it has some liberal laws when it comes to cryptocurrency market but i did not know that the government is investing in bitcoin and if that is the situation they might be the first government to publicly invest in bitcoin and if they have a net portfolio of $306 billion then they have invested a few billions in the cryptocurrency market as well.

No one really knows, until someone put it in public and then everyone started to check out what this company is and how big it was. So it's worth $306 base on their last report. There could be other liberal government secretly investing or shall we say diversifying their portfolio by hedging it to bitcoin or crypto in general. But I like @Lucius point of view as well, let their people invest or at least average joe and not their government because for sure they are going to take a big piece of the pie, and what's left is for us is just small portion that we need to "fight".

[aoluain]

I personally would be in favor of governments not realizing how important BTC is for at least another 10 years, because that way the distribution would be much fairer - more for the little people, less for the greedy rich at the top of the pyramid.

As per the OP, with the Singaporean government buying Bitcoin direct from miners
it reduces the supply entering the open market, if it continues and more big
buyers use this method it drives the price up and reduces the amount the average
person can get.

Recently I have started to look differently at the influx of big buyers and what that
means for small buyers.

[Shasha80]

Like, since Tesla decided to buy Bitcoin, it has started to make Bitcoin attractive to many parties. I am not surprised that finally Robert Gutmann,
CEO of New York Digital Investment Group gave a positive statement, that the firm is in talks with Sovereign wealth funds regarding
the possibility of investing in Bitcoin. With this positive news regarding Bitcoin continues to emerge, this is exactly what Bitcoin holders hope for.
So that the price of Bitcoin can continue to rise and can provide big profits for Bitcoin holders.

[Chato1977]

Governments are looking to buy Bitcoin, NYDIG CEO confirms https://cointelegraph.com/news/governments-are-looking-to-buy-bitcoin-nydig-ceo-confirms just so much good news

Why they need to look when Bitcoin is already available in every exchange in the world?

This is what sometimes i hate in Cointelegraph because they are just making topics that will love by stupid noobs and story tellers, That even those nonsense topics they wanted to make news.

No wonder why there are only few that still read their articles because of nonsense news.

[repear7]

If any countries government buy bitcoin, Then others countries government will be interested to buy bitcoin. It’s very big step to buy bitcoin for a government. Wait to see they how much invest in btc.

[Lordhermes]

If any countries government buy bitcoin, Then others countries government will be interested to buy bitcoin. It’s very big step to buy bitcoin for a government. Wait to see they how much invest in btc.

The only influential government would be the Asian government, they are really the highly populated set of people that would influence other government to do the same. although, this is not a today's news any longer but as long as the company trying to buy bitcoin is a Singapore company, they are really into Bitcoin and her development, almost 80% of Singaporean are into Bitcoin and had perfect usage of cryptocurrency.

[Trinx01]

As I have opened the link included in the thread, the government who about to buy bitcoin is from Singapore, well we all know how good the country of Singapore even though they are considered as one of the fewest population in Asia, they are still considered as one of the richest countries and it is because of technology, they are advanced in terms of technology so I am not that shocked as they are interested in investing or buying bitcoin. Anyway, this is really good news we might see a good movement with the price of bitcoin soon.

[Richhhhhh]

I lost money to yobit after the hack and was unable to access funds in my wallet and just like many investors, I was skeptical yet optimistic that I would get a refund from the exchange until reality dawned on me. I wasn’t going to get money back. In desperation I asked a friend for advise and help, he referred me to a recovery firm site link which I contacted and was able to get part of my money back.
If you’re a victim online scam or exchange scam contact Richard Wombwell at Wombwellrichard@gmail.com 
+1 (912) 333 9579.

[kopijos]

Governments are looking to buy Bitcoin, NYDIG CEO confirms https://cointelegraph.com/news/governments-are-looking-to-buy-bitcoin-nydig-ceo-confirms just so much good news

I hope all governments can do this in order to encourage people to use bitcoin. right now I don't think many governments can accept bitcoin, so I think this is a good step for the government

[Argoo]

Let me quote from the article:

According to Pal, Temasek which holds about $306 billion in assets under management, has been buying virgin Bitcoin from miners.

And this is the company:

https://www.temasek.com.sg/en/index

And it is own by the Government of Singapore, and we all know that Singapore is one of the most crypto friendly countries. Interesting to see how much they are willing to invest on bitcoin though, it said they manage a net portfolio of $306 billion, that's huge, but I speculate that they could be just testing some grounds on bitcoin and could be investing in millions initially.

I am a little surprised by this news, because I thought that governments would not show interest in buying bitcoins. This contradicts their nature, and the general strategy of most states in relation to cryptocurrency has not yet been formed, they are unlikely to massively buy bitcoins.
At the same time, Singapore has always been distinguished by a positive interest in all new technologies, including a friendly attitude towards cryptocurrency, and many new cryptocurrency companies registered and launched their projects in Singapore.
Cryptocurrency is developing rapidly and the attitude of states and their governments towards it can also change. Well, let's see what happens next.

[XZERO1]

Governments are looking to buy Bitcoin, NYDIG CEO confirms https://cointelegraph.com/news/governments-are-looking-to-buy-bitcoin-nydig-ceo-confirms just so much good news

Don't get bullish/bearish because of the news, because market makers often use the news sources to manipulate market, if you want to stay in the market and take some profits from time to time, just learn to disregard almost all kinds of news about crypto whether it's positive(bullish) or negative(bearish).

Where were these companies, governments and institutions were when Bitcoin was $3k-$4k?, you think they were not buying back then?, Why there was no such news about how much Bitcoin they bought when it was that cheap?, well, simply because they wanted to fill their bags and they were not ready for the big push up.

[ven7net]

Governments are looking to buy Bitcoin, NYDIG CEO confirms https://cointelegraph.com/news/governments-are-looking-to-buy-bitcoin-nydig-ceo-confirms just so much good news

You're right! If the news that BTC is being bought is really good and we can see it now. Buying BTC by large state-owned companies can send the price of BTC to the moon. Yet 2021 is the year of growth for crypto and BTC, and it is likely in 2021 that we will see a big rise in prices for BTC and other cryptocurrencies.

[avikz]

Governments are looking to buy Bitcoin, NYDIG CEO confirms https://cointelegraph.com/news/governments-are-looking-to-buy-bitcoin-nydig-ceo-confirms just so much good news

Not a good news at all! Corporate buying into bitcoin market is still somewhat good news but it's not same when government bodies buy into it. It will further centralize the network and government will have the power to manipulate the market to satisfy the banking lobby. That's not good at all!

We will see temporary liquidity flow into the market for sure but seriously need to think - at what cost that might come to us in future.

[bitgov]

Governments are looking to buy Bitcoin, NYDIG CEO confirms https://cointelegraph.com/news/governments-are-looking-to-buy-bitcoin-nydig-ceo-confirms just so much good news

It may be true but in my oponion government are no one enemy of bitcoin. Since bitcoin is created to take the financial system away from governments. Thats why we see huge resistance for bitcoin coming from government people.

[AmoreJaz]

As I have opened the link included in the thread, the government who about to buy bitcoin is from Singapore, well we all know how good the country of Singapore even though they are considered as one of the fewest population in Asia, they are still considered as one of the richest countries and it is because of technology, they are advanced in terms of technology so I am not that shocked as they are interested in investing or buying bitcoin. Anyway, this is really good news we might see a good movement with the price of bitcoin soon.

this article should be read by countries who are still banning the usage of crypto like Saudi, Algeria, or other countries that are still treating bitcoin as illegal. while some governments are already buying their own btc stash, others are still being hard at BTC usage.
this also shows the acceptance of the govt itself. so the companies located in that area will have no prob going into crypto also, it will even encourage merchants to include crypto in their payment system.