The Washington Post reports:

Top cryptocurrency executives and investors are pushing President-elect Donald Trump to create a national stockpile of bitcoin, a move that could more closely tie the little-regulated, volatile industry to the future of the country’s finances.

Trump has publicly expressed broad interest in the idea, though some crypto advocates have urged him to take an even more aggressive step: They want him to acquire tokens worth billions of dollars, then hold them for decades in the hopes they will skyrocket in value and help pay down the national debt.

Economists and fiscal experts say the proposal carries significant risks: Crypto prices can fluctuate wildly, potentially putting taxpayer dollars at risk if the government acquires bitcoin at its current level — near record highs — and its value ultimately falls. They also say a strategic reserve would primarily benefit existing bitcoin owners, who could profit immensely if Trump’s actions send prices soaring and they opt to sell.

“There’s just no discernible logic to do it,” said Mark Zandi, the chief economist at Moody’s Analytics. “I get why the crypto investor would love it. Other than the crypto investor, I don’t see the value, particularly if taxpayers have to ante up.” [Continue reading…]