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Acquiring Bitcoin as a Long Term Treasury Asset
Proposal Details
Description
Allocate a % of stablecoin balance to buying Bitcoin. Potentially from USDT holdings, following this proposal to migrate to other stablecoins - https://governance.decentraland.org/proposal/?id=19c1a8e0-dc71-11ec-8ad9-ab7454ba5993 Logic ; Simply, Bitcoin is the best form of money ever invented. The Treasury should have exposure to Bitcoin and in doing so would reduce overall volatility of the Treasury.
Bitcoin the largest cryptocurrency by market cap , is a risky investment with high volatity. It should only be considered if you have a high risk tolerance, are in a strong financial position and can afford to lose any money you invest in it.
Even though I like this idea from a vision and economic perspective, I don't think the DAO Treasury can hold bitcoin at least in its current state, as the Gnosis safe only supports Ethereum-based assets.
The idea of my original proposal was to move a stablecoin to another stablecoin. Bitcoin is not stable.
Acquiring Bitcoin as a Long Term Treasury Asset This proposal is now in status: REJECTED. Voting Results: * Acquire bitcoin as a long term treasury asset. 29% 148,380 VP (6 votes) * No, do not acquire bitcoin. 7% 38,951 VP (4 votes) * Invalid question/options 40% 203,045 VP (5 votes)
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