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Sneaky Vampire SyndicateSneaky Vampire Syndicateby0xAFA612eCA5ac67F1a3481d96cA1D8869Faa36334tipmebits.eth

Add Bitcoin (BTC) to SVS treasury

Voting ended almost 4 years agoDefeated

Propose buying one BTC to hold as part of treasury funds. At current price 1 BTC = 13.23 ETH or <3% of current ETH holdings.

  • Why: Diversification of funds (even though small to start), is a good strategy to retain wealth. BTC is the hardest currency in the world today.

  • How: Stored in multisig wallet. Would like to see one community member as a signer? - Need to explore the risks though.

  • When: I am not a trader, we could wait for a dip on ETH/BTC or now as the time frame to hold the BTC is long.

  • Tax: I have no idea how that sh*t works, I am not American. lol Which tax authority is this wallet beholden to?

  • Desired Outcome: Extra buying power as BTC rises over a long time frame. Hedge.

  • Residual effect: Could catch the attention of non-SVS-holders. "The first NFT community wallet to hold BTC." -- I don't know if this is true ;)

Should it come with an agreement only to sell at ATH? Or other time-lock? - to be discussed.

Off-Chain Vote

For
585 SVS34%
Against
1.04K SVS60.4%
Abstain
96 SVS5.6%
Quorum:172%
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Timeline

Apr 05, 2022Proposal created
Apr 05, 2022Proposal vote started
Apr 12, 2022Proposal vote ended
Oct 26, 2023Proposal updated