Governments are looking to buy Bitcoin, NYDIG CEO confirms

[nikolastech]

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

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[Bilgent]

It is great news for sure. We have witnessed many governments not leaning towards legalizing Bitcoin in their country so far. But it looks like it could start changing. This will really accelerate Bitcoin adoption. Even if the governments don't prefer Bitcoin as their chief monetary unit, it means a lot for Bitcoin.

[TravelMug]

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.

[dansus021]

in recent news i already hear about government X Cryptocurrency from banned and who start adopting, but in my opinion is good if government start adopting in start form print their own digital stable coin backed by government 

[mk4]

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 did a bit of digging, and unfortunately the amount of money they allocated to bitcoin seems to still be unknown.

One thing's for sure, they seem to have been interested in the cryptocurrency industry as a whole: https://asia.nikkei.com/Spotlight/Cryptocurrencies/Singapore-s-Temasek-joins-Facebook-backed-Libra-currency

[cabron]

There's got to be more governments that will follow the steps once they verify that indeed some governments are now trying to accumulate Bitcoin. We've already heard the news about Miami government allowing employees to earn BTC. Its going to hurt them when they are still not going to ride the train. Almost every financial channel on youtube had once covered BTC already to which they use to hedge, they should start buying.

[Darker45]

Bitcoin has effectively upended the financial world. Developments are interesting. It's surreal. Who would have thought a creation by someone who is unknown and which is heavily branded and criticized by the conventional world would grow so attractive and precious that even the governments themselves would buy it? Such irony! A perfect example for if you can't beat 'em, join 'em.

Sooner rather than later, we'll all be grateful for the governments for being financially incompetent, indiscriminate in printing money, and finally in buying Bitcoin they'll push the price to the heavens.

[Rruchi man]

Sooner rather than later, we'll all be grateful for the governments for being financially incompetent, indiscriminate in printing money, and finally in buying Bitcoin they'll push the price to the heavens.

This might just be the booster we have all been waiting for to push the price all the way up. The government's purchase of bitcoin will booster confidence in bitcoin and other cryptocurrency, many will have their skepticism dissolved and will want to join in in this digital gold..

[kaya11]

It's a crypto friendly country, I will the thrilled if countries that bought massive amount of bitcoins are India,  China, North Korea, Iran and other countries which Governments are military fanatics, better they invest money in bitcoin than studying weapons that kills people.

[Antonio_d1ego]

wondering how the price will change?

[best123]

Bitcoin is for everyone. They are highly welcome to the Bitcoin world. Bitcoin and Blockchain technology is disrupting the whole sectors of the world economy right now with its amazing use cases (decentralization, immutability, fast, lesser transaction cost etc.).

[Kittygalore]

There's got to be more governments that will follow the steps once they verify that indeed some governments are now trying to accumulate Bitcoin. We've already heard the news about Miami government allowing employees to earn BTC. Its going to hurt them when they are still not going to ride the train. Almost every financial channel on youtube had once covered BTC already to which they use to hedge, they should start buying.

That is what everyone is hoping and I think that there is a big possibility that they will follow suit remember that humans like to fit in and if not then they know that they are going to be left behind.

[cryptomaniac_xxx]

It's a crypto friendly country, I will the thrilled if countries that bought massive amount of bitcoins are India,  China, North Korea, Iran and other countries which Governments are military fanatics, better they invest money in bitcoin than studying weapons that kills people.

I'm not really sure about those countries though, but what we know is that people from those nations are buying bitcoin as a "hedge against bad governance". North Koreans could have bitcoins in their pockets, but not through investing but through hacking exchanges such as South Korea, with their Lazarus Group. Singapore is a different story, their government are friendlies that's why they decided to throw themselves into crypto.

[meanwords]

Another country to solidify Bitcoin adoption. The fact that they are very interested in cryptocurrency means it's going to also encourage more of their citizens to look in to cryptocurrency even further. I'm going to guess that it's going to attract more companies in asia too (Hopefully india too).

[HanaTenun]

that would be good news, maybe after this there will be governments that buy bitcoin again, little by little the government can finally receive crypto assets, hopefully after this the governments of countries like India and China will immediately allow their citizens to own and transact bitcoin, so that currency  Crypto is better known in the community and can be used for everyday life, and so that people can have a better life after getting to know the crypto world and investing in it.

[TravelMug]

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 did a bit of digging, and unfortunately the amount of money they allocated to bitcoin seems to still be unknown.

One thing's for sure, they seem to have been interested in the cryptocurrency industry as a whole: https://asia.nikkei.com/Spotlight/Cryptocurrencies/Singapore-s-Temasek-joins-Facebook-backed-Libra-currency

Yep, that's why I speculate that it maybe just a small portion has been allocated for now because the risk involved.

Maybe we can get a clearer picture later and see how much they really did invest out of that $300 billion worth of funds they got. This guys are expert in the field of investment, their portfolio is very diverse so a new venture like in crypto could be small at the very onset and then grow overtime.

[LogitechMouse]

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.

[Poker Player]

It is clear that if Bitcoin is Gold 2.0, being much better, governments will end up buying bitcoin for their reserves in the same way they own gold. The same will happen with central banks, even if they don't want to admit it at the moment. Logically, they will start with the most crypto-friendly countries, as is the case here.

[bassbity]

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.

when the Singapore government has started to open wide space for bitcoin to enter the government environment, that way the public will have full support. and this good news is given appreciation for the government which is very excited to have large amounts of bitcoin. We are still waiting for the funds they will invest in bitcoin. because after all the government will not buy it in small quantities. the company has fulfilled the requirements when the government there gives authority over bitcoin ownership.

[big kid]

That's a good start. I hope more countries will follow their example. Crypto should be taken seriously.