Well if they bringing in cash flow then it make sense to swap out some of your cash reserves for BTC in this climate or you will get killed by inflation, not many want to try to hold too much paper gold either because its been rehypothecated and taking physical delivery of massive amounts a government would certainly blcok
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Plus you know, they are going to asteroids in the next couple years that contain vast sums of the yellow metal... The supply of gold isn't fixed in the same way that bitcoin's is.
Well we don't even actually know how many deposits have been minded vs undiscovered here, nor do we know how much physical gold there is with black markets and paper gold and lost gold, it's pretty inefficient. I get it has a limited supply but people speak like its full proof, very few are talking about its down side they way they speak about BTC's downsides which we already know and acknowledge and are working to improve it.
How do you improve gold? Lol