The HODL Act

Activity
Briefings
Editorial
Media Release
Policy

12 July 2023

Petition – The HODL Act

ABIBActivity, Editorial Reserve Bank of Australia, The HODL Act

As of March 2023, the Reserve Bank of Australia (RBA) holds AU$87.5 billion in foreign currency reserves, 88% of which consist of unbacked fiat currency, with less than 8% in gold. Alarmingly, virtually all of Australia’s gold reserves (over 99.9%) are stored in the Bank of England. The fiat currency system, with its unlimited supply, […]

30 May 2023

Australia Should HODL Bitcoin

ABIBEditorial, Policy Reserve Bank of Australia, The HODL Act

In World War II many European countries, fearing potential theft of their gold reserves during an invasion, moved their gold to the Federal Reserve Bank of New York. This would later prove to be a poor decision. “In August 1971, French president Pompidou sent a battleship to New York harbor to remove France’s gold from […]