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What if Bitcoin had a treasury?

Apr 29, 2020 ⋅  7 min read

Nearly all public blockchains implement some kind of mechanism for redistributing value to certain stakeholders that provide invaluable services to a blockchain. Colloquially these mechanisms are referred to as block rewards and they fund Bitcoin's "fiscal budget". Currently Bitcoin spends its entire “fiscal budget” on defense. In fact, Bitcoin spends so much on defense it would rank 41st in defense spending if it was a country. But what if it allocated its fiscal spending differently?

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Ryan Watkins was a Senior Research Analyst at Messari. Previously, he worked at Moelis & Company as an Investment Banking Analyst where he worked on deals in the technology, telecom, and fintech sectors. Ryan graduated Magna Cum Laude from the Gabelli School of Business at Fordham University.

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About the author

Ryan Watkins was a Senior Research Analyst at Messari. Previously, he worked at Moelis & Company as an Investment Banking Analyst where he worked on deals in the technology, telecom, and fintech sectors. Ryan graduated Magna Cum Laude from the Gabelli School of Business at Fordham University.

Mentioned in this report