

I mean, 4x the market cap of Meta, 80x, it makes little difference. The key is the book publishers should end up owning Meta. Again, I wouldn’t expect them to necessarily turn Facebook into some revitalized utopia. But I think at least a bunch of stodgy old book publishers wouldn’t be so overtly cartoonishly fascist at the very least.
They’re using a bullshit slight-of-hand to claim they’re not spending government money on it.
They’re planning on using coins seized from criminals. But normally those coins would be sold, and the proceeds from that sale would go to the US Treasury. Instead, they’re going to seize them and just hold onto them.
It’s the same thing. Whether you spend government money to purchase coins and hold them, or you simply hold seize coins, both of these options result in the same increase in the US national debt.
And ultimately it is simply a method of propping up the crypto bubble. They want the US government to be the ultimate “diamond hands” hoarder of crypto. Every time some dark web drug site gets shut down, any coins they hold will be thrown into a government vault, never to be seen again. This effectively removes them from circulation, decreasing the supply, and forcing crypto prices higher. This is taking billions from the Treasury to prop up the crypto market.