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Hiểu về Dự trữ Bitcoin và Quỹ Tài sản Quốc gia tại Mỹ

Khi Quốc hội Mỹ tiến tới quy định về tiền điện tử, sự khác biệt giữa quỹ tài sản quốc gia và dự trữ Bitcoin vẫn chưa rõ ràng.

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V\u00e0o ng\u00e0y 4 th\u00e1ng 2, David Sacks, ng\u01b0\u1eddi v\u1eeba \u0111\u01b0\u1ee3c b\u1ed5 nhi\u1ec7m l\u00e0m ng\u01b0\u1eddi \u0111\u1ee9ng \u0111\u1ea7u v\u1ec1 ti\u1ec1n \u0111i\u1ec7n t\u1eed, \u0111\u00e3 tuy\u00ean b\u1ed1 trong m\u1ed9t cu\u1ed9c h\u1ecdp b\u00e1o r\u1eb1ng nh\u00f3m l\u00e0m vi\u1ec7c v\u1ec1 ti\u1ec1n \u0111i\u1ec7n t\u1eed hai vi\u1ec7n \u0111ang kh\u00e1m ph\u00e1 \u00fd t\u01b0\u1edfng v\u1ec1 m\u1ed9t d\u1ef1 tr\u1eef Bitcoin chi\u1ebfn l\u01b0\u1ee3c (SBR). \u00d4ng nh\u1ea5n m\u1ea1nh r\u1eb1ng kh\u00e1i ni\u1ec7m v\u1ec1 qu\u1ef9 t\u00e0i s\u1ea3n qu\u1ed1c gia l\u00e0 kh\u00e1c bi\u1ec7t.<\/p>","

Qu\u1ef9 t\u00e0i s\u1ea3n qu\u1ed1c gia (SWFs) th\u01b0\u1eddng b\u1ecb hi\u1ec3u sai trong c\u1ed9ng \u0111\u1ed3ng ti\u1ec1n \u0111i\u1ec7n t\u1eed, \u0111\u01b0\u1ee3c coi nh\u1ea7m l\u00e0 c\u00e1c th\u1ef1c th\u1ec3 c\u00f3 th\u1ec3 d\u1ec5 d\u00e0ng k\u1ebft h\u1ee3p Bitcoin ho\u1eb7c c\u00e1c t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1 kh\u00e1c. SWFs l\u00e0 c\u00e1c qu\u1ef9 \u0111\u1ea7u t\u01b0 thu\u1ed9c s\u1edf h\u1eefu c\u1ee7a ch\u00ednh ph\u1ee7, qu\u1ea3n l\u00fd ti\u1ebft ki\u1ec7m qu\u1ed1c gia, th\u01b0\u1eddng \u0111\u01b0\u1ee3c t\u00e0i tr\u1ee3 b\u1edfi doanh thu d\u01b0 th\u1eeba t\u1eeb c\u00e1c ngu\u1ed3n nh\u01b0 l\u1ee3i nhu\u1eadn d\u1ea7u m\u1ecf ho\u1eb7c l\u1ee3i nhu\u1eadn t\u1eeb th\u01b0\u01a1ng m\u1ea1i.<\/p>","

C\u00e1c qu\u1ef9 n\u00e0y nh\u1eb1m m\u1ee5c \u0111\u00edch t\u0103ng tr\u01b0\u1edfng v\u00e0 b\u1ea3o v\u1ec7 t\u00e0i s\u1ea3n trong d\u00e0i h\u1ea1n, \u0111\u1ea3m b\u1ea3o s\u1ef1 \u1ed5n \u0111\u1ecbnh kinh t\u1ebf cho c\u00e1c th\u1ebf h\u1ec7 t\u01b0\u01a1ng lai. Kh\u00f4ng gi\u1ed1ng nh\u01b0 c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng, qu\u1ea3n l\u00fd ti\u1ec1n t\u1ec7 v\u00e0 ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7, SWFs \u00e1p d\u1ee5ng c\u00e1ch ti\u1ebfp c\u1eadn \u0111\u1ea7u t\u01b0 chi\u1ebfn l\u01b0\u1ee3c, t\u1eadp trung v\u00e0o b\u1ea5t \u0111\u1ed9ng s\u1ea3n, c\u1ed5 phi\u1ebfu, c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng v\u00e0 doanh nghi\u1ec7p \u0111\u1ecba ph\u01b0\u01a1ng.<\/p>","

M\u1ee5c ti\u00eau c\u1ee7a h\u1ecd l\u00e0 t\u0103ng tr\u01b0\u1edfng \u1ed5n \u0111\u1ecbnh h\u01a1n l\u00e0 \u0111\u1ea7u t\u01b0 r\u1ee7i ro cao, l\u00e0m cho ch\u00fang tr\u1edf th\u00e0nh c\u00f4ng c\u1ee5 quan tr\u1ecdng cho c\u00e1c qu\u1ed1c gia t\u00ecm ki\u1ebfm an ninh t\u00e0i ch\u00ednh v\u01b0\u1ee3t ra ngo\u00e0i nhu c\u1ea7u ngay l\u1eadp t\u1ee9c.<\/p>","

\u0110\u00e2y l\u00e0 l\u00fd do t\u1ea1i sao Sacks nhanh ch\u00f3ng l\u00e0m r\u00f5 r\u1eb1ng SWFs v\u00e0 SBRs kh\u00f4ng n\u00ean b\u1ecb nh\u1ea7m l\u1eabn. SWFs c\u00f3 kh\u1ea3 n\u0103ng ph\u1ee5c v\u1ee5 c\u00e1c m\u1ee5c \u0111\u00edch r\u1ed9ng h\u01a1n, ch\u1eb3ng h\u1ea1n nh\u01b0 h\u1ed7 tr\u1ee3 c\u00e1c c\u00f4ng ty trong n\u01b0\u1edbc v\u00e0 c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng th\u1ecb tr\u01b0\u1eddng, so v\u1edbi s\u1ef1 t\u1eadp trung c\u1ee5 th\u1ec3 c\u1ee7a m\u1ed9t SBR.<\/p>","

23 bang \u0111\u00e3 gi\u1edbi thi\u1ec7u lu\u1eadt v\u1ec1 Bitcoin v\u00e0 t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1.<\/em><\/p><\/figcaption><\/figure>","

Bill Hughes, c\u1ed1 v\u1ea5n c\u1ea5p cao t\u1ea1i c\u00f4ng ty ph\u1ea7n m\u1ec1m blockchain Consensys, \u0111\u00e3 g\u1ee3i \u00fd r\u1eb1ng m\u1ed9t qu\u1ef9 t\u00e0i s\u1ea3n qu\u1ed1c gia, \u0111\u01b0\u1ee3c y\u00eau c\u1ea7u b\u1edfi T\u1ed5ng th\u1ed1ng M\u1ef9 v\u00e0o ng\u00e0y 3 th\u00e1ng 2, c\u00f3 th\u1ec3 l\u00e0 ph\u01b0\u01a1ng \u00e1n d\u1ef1 ph\u00f2ng n\u1ebfu m\u1ed9t d\u1ef1 tr\u1eef chi\u1ebfn l\u01b0\u1ee3c c\u1ee5 th\u1ec3 cho ti\u1ec1n \u0111i\u1ec7n t\u1eed kh\u00f4ng th\u00e0nh hi\u1ec7n th\u1ef1c.<\/p>","

Khi c\u00e1c s\u00e1ng ki\u1ebfn n\u00e0y ti\u1ebfn tri\u1ec3n, ch\u00fang \u0111\u1eb7t ra c\u00e1c c\u00e2u h\u1ecfi quan tr\u1ecdng v\u1ec1 vi\u1ec7c t\u00edch h\u1ee3p ti\u1ec1n \u0111i\u1ec7n t\u1eed v\u00e0o c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u1ea5p bang v\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a ch\u00fang \u0111\u1ed1i v\u1edbi ng\u00e0nh t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1 trong n\u0103m 2025 v\u00e0 sau \u0111\u00f3.<\/p>","

C\u00e1c Qu\u1ef9 T\u00e0i s\u1ea3n Qu\u1ed1c gia v\u00e0 K\u1ebf ho\u1ea1ch D\u1ef1 tr\u1eef Bitcoin C\u1ea5p Bang \u0110\u00e3 T\u1ed3n t\u1ea1i t\u1ea1i M\u1ef9<\/h2>","

M\u1ed9t s\u1ed1 bang c\u1ee7a M\u1ef9 \u0111\u00e3 v\u1eadn h\u00e0nh SWFs ph\u00f9 h\u1ee3p v\u1edbi \u0111\u1ecbnh ngh\u0129a truy\u1ec1n th\u1ed1ng. Qu\u1ef9 Alaska Permanent, \u0111\u01b0\u1ee3c th\u00e0nh l\u1eadp v\u00e0o n\u0103m 1976, \u0111\u1ea7u t\u01b0 doanh thu t\u1eeb d\u1ea7u m\u1ecf v\u00e0o m\u1ed9t danh m\u1ee5c \u0111\u1ea7u t\u01b0 \u0111a d\u1ea1ng, h\u1ed7 tr\u1ee3 ng\u00e2n s\u00e1ch c\u1ee7a bang v\u00e0 c\u1ed5 t\u1ee9c h\u00e0ng n\u0103m cho c\u01b0 d\u00e2n.<\/p>","

Qu\u1ef9 Tr\u01b0\u1eddng h\u1ecdc V\u0129nh vi\u1ec5n c\u1ee7a Texas s\u1eed d\u1ee5ng doanh thu t\u1eeb d\u1ea7u v\u00e0 kh\u00ed \u0111\u1ed1t \u0111\u1ec3 t\u00e0i tr\u1ee3 cho gi\u00e1o d\u1ee5c c\u00f4ng c\u1ed9ng \u0111\u1ed3ng th\u1eddi duy tr\u00ec s\u1ef1 \u1ed5n \u0111\u1ecbnh t\u00e0i ch\u00ednh. T\u01b0\u01a1ng t\u1ef1, Qu\u1ef9 Kho\u00e1ng s\u1ea3n V\u0129nh vi\u1ec5n c\u1ee7a Wyoming v\u00e0 Qu\u1ef9 Di s\u1ea3n c\u1ee7a North Dakota \u0111\u1ea7u t\u01b0 thu nh\u1eadp t\u1eeb khai th\u00e1c d\u1ea7u, kh\u00ed v\u00e0 kho\u00e1ng s\u1ea3n \u0111\u1ec3 \u1ed5n \u0111\u1ecbnh bi\u1ebfn \u0111\u1ed9ng ng\u00e2n s\u00e1ch v\u00e0 b\u1ea3o \u0111\u1ea3m t\u00e0i s\u1ea3n cho c\u00e1c th\u1ebf h\u1ec7 t\u01b0\u01a1ng lai.<\/p>","

Qu\u1ef9 Thu\u1ebf Ph\u00ed T\u00e1ch Bi\u1ec7t V\u0129nh vi\u1ec5n c\u1ee7a New Mexico theo m\u1ed9t m\u00f4 h\u00ecnh t\u01b0\u01a1ng t\u1ef1, t\u00e1i \u0111\u1ea7u t\u01b0 doanh thu thu\u1ebf ph\u00ed t\u00e1ch bi\u1ec7t t\u1eeb khai th\u00e1c t\u00e0i nguy\u00ean \u0111\u1ec3 c\u1ea3i thi\u1ec7n s\u1ee9c kh\u1ecfe t\u00e0i ch\u00ednh c\u1ee7a bang. M\u1eb7c d\u00f9 c\u00e1c qu\u1ef9 n\u00e0y c\u00f3 c\u00e1c m\u1ee5c \u0111\u00edch kh\u00e1c nhau, ch\u00fang chia s\u1ebb m\u1ee5c ti\u00eau chung l\u00e0 chuy\u1ec3n \u0111\u1ed5i c\u00e1c \u0111\u1ee3t b\u00f9ng n\u1ed5 t\u00e0i nguy\u00ean t\u1ea1m th\u1eddi th\u00e0nh an ninh t\u00e0i ch\u00ednh d\u00e0i h\u1ea1n.<\/p>","

S\u1ed1 l\u01b0\u1ee3ng c\u00e1c bang c\u00f3 c\u00e1c ph\u01b0\u01a1ng ti\u1ec7n \u0111\u1ea7u t\u01b0 n\u00e0y t\u0103ng l\u00ean khi bao g\u1ed3m nh\u1eefng bang d\u1ef1 tr\u1eef th\u1eb7ng d\u01b0 trong c\u00e1c qu\u1ef9 ng\u00e0y m\u01b0a ho\u1eb7c qu\u1ef9 \u1ed5n \u0111\u1ecbnh, m\u1ed9t s\u1ed1 trong s\u1ed1 \u0111\u00f3 \u0111\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c danh m\u1ee5c \u0111\u1ea7u t\u01b0 \u0111a d\u1ea1ng.<\/p>","

\u0110i\u1ec1u n\u00e0y n\u00e2ng t\u1ed5ng s\u1ed1 l\u00ean \u0111\u1ebfn 23 bang v\u1edbi m\u1ed9t s\u1ed1 h\u00ecnh th\u1ee9c c\u1ee7a c\u00e1c ph\u01b0\u01a1ng ti\u1ec7n \u0111\u1ea7u t\u01b0 n\u00e0y, m\u1eb7c d\u00f9 nhi\u1ec7m v\u1ee5 v\u00e0 c\u1ea5u tr\u00fac c\u1ee7a ch\u00fang c\u00f3 th\u1ec3 kh\u00e1c bi\u1ec7t so v\u1edbi m\u00f4 h\u00ecnh SWF c\u1ed5 \u0111i\u1ec3n.<\/p>","

15 bang \u0111\u00e3 gi\u1edbi thi\u1ec7u c\u00e1c d\u1ef1 lu\u1eadt d\u1ef1 tr\u1eef Bitcoin v\u00e0 t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1 ri\u00eang bi\u1ec7t.<\/em><\/p><\/figcaption><\/figure>","

Tr\u00ean m\u1ed9t l\u01b0u \u00fd t\u00edch c\u1ef1c, 15 bang \u0111\u00e3 gi\u1edbi thi\u1ec7u lu\u1eadt li\u00ean quan \u0111\u1ebfn Bitcoin v\u00e0 t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1. Trong cu\u1ed9c \u0111ua l\u1eadp ph\u00e1p n\u00e0y, Arizona v\u00e0 Utah \u0111ang d\u1eabn \u0111\u1ea7u \u1edf c\u1ea5p \u0111\u1ed9 b\u1ecf phi\u1ebfu c\u1ee7a ph\u00f2ng.<\/p>","

D\u1ef1 lu\u1eadt c\u1ee7a Arizona \u0111\u1ec1 xu\u1ea5t vi\u1ec7c th\u00e0nh l\u1eadp m\u1ed9t qu\u1ef9 d\u1ef1 tr\u1eef Bitcoin chi\u1ebfn l\u01b0\u1ee3c, gi\u1edbi h\u1ea1n \u1edf 10% c\u1ee7a qu\u1ef9 c\u00f4ng, ph\u1ee5 thu\u1ed9c v\u00e0o vi\u1ec7c ch\u00ednh ph\u1ee7 M\u1ef9 t\u1ea1o ra SBR c\u1ee7a ri\u00eang m\u00ecnh. N\u00f3 ph\u00f9 h\u1ee3p v\u1edbi \u0110\u1ea1o lu\u1eadt Bitcoin c\u1ee7a Th\u01b0\u1ee3ng ngh\u1ecb s\u0129 Lummis, nh\u1eb1m cho ph\u00e9p c\u00e1c bang tham gia v\u00e0o m\u1ed9t ch\u01b0\u01a1ng tr\u00ecnh do li\u00ean bang qu\u1ea3n l\u00fd.<\/p>","

D\u1ef1 lu\u1eadt c\u1ee7a Utah s\u1ebd cho ph\u00e9p \u0111\u1ea7u t\u01b0 t\u1ed1i \u0111a 10% c\u1ee7a m\u1ed9t s\u1ed1 qu\u1ef9 bang l\u1edbn v\u00e0o t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1, b\u1ea3o v\u1ec7 quy\u1ec1n t\u1ef1 l\u01b0u tr\u1eef v\u00e0 \u0111\u1ea3m b\u1ea3o r\u1eb1ng c\u00e1c n\u00fat kh\u00f4ng b\u1ecb ph\u00e2n lo\u1ea1i l\u00e0 truy\u1ec1n ti\u1ec1n. V\u1edbi \u0111\u1ecbnh ngh\u0129a r\u1ed9ng v\u1ec1 \"t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1\" v\u00e0 kh\u00f4ng \u0111\u1ec1 c\u1eadp tr\u1ef1c ti\u1ebfp \u0111\u1ebfn Bitcoin, c\u00e1ch ti\u1ebfp c\u1eadn c\u1ee7a Utah to\u00e0n di\u1ec7n h\u01a1n trong vi\u1ec7c t\u00edch h\u1ee3p ti\u1ec1n \u0111i\u1ec7n t\u1eed v\u00e0o c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u1ea5p bang.<\/p>","

Tuy nhi\u00ean, c\u00e1c d\u1ef1 lu\u1eadt \u1edf North Dakota (HB1184) v\u00e0 Wyoming (HB201) \u0111\u00e3 kh\u00f4ng v\u01b0\u1ee3t qua quy tr\u00ecnh l\u1eadp ph\u00e1p c\u1ee7a bang t\u01b0\u01a1ng \u1ee9ng.<\/p>","

T\u00ednh T\u1ea5t Y\u1ebfu c\u1ee7a D\u1ef1 tr\u1eef Bitcoin v\u00e0 T\u00e0i s\u1ea3n K\u1ef9 thu\u1eadt s\u1ed1<\/h2>","

S\u1ef1 ph\u00e1t tri\u1ec3n nhanh ch\u00f3ng c\u1ee7a lu\u1eadt v\u1ec1 d\u1ef1 tr\u1eef Bitcoin v\u00e0 t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1 \u1edf c\u1ea5p bang cho th\u1ea5y s\u1ef1 thay \u0111\u1ed5i c\u01a1 b\u1ea3n trong c\u00e1ch c\u00e1c ch\u00ednh ph\u1ee7 nh\u00ecn nh\u1eadn ti\u1ec1n \u0111i\u1ec7n t\u1eed, t\u1eeb c\u00e1c t\u00e0i s\u1ea3n \u0111\u1ea7u c\u01a1 sang c\u00e1c d\u1ef1 tr\u1eef chi\u1ebfn l\u01b0\u1ee3c ti\u1ec1m n\u0103ng.<\/p>","

Li\u1ec7u nh\u1eefng n\u1ed7 l\u1ef1c l\u1eadp ph\u00e1p n\u00e0y s\u1ebd d\u1eabn \u0111\u1ebfn vi\u1ec7c n\u1eafm gi\u1eef Bitcoin th\u1ef1c s\u1ef1 hay ch\u1ec9 l\u00e0 c\u1eed ch\u1ec9 bi\u1ec3u t\u01b0\u1ee3ng ph\u1ee5 thu\u1ed9c v\u00e0o \u00fd ch\u00ed ch\u00ednh tr\u1ecb, s\u1ef1 r\u00f5 r\u00e0ng v\u1ec1 quy \u0111\u1ecbnh v\u00e0 \u0111i\u1ec1u ki\u1ec7n th\u1ecb tr\u01b0\u1eddng. Tuy nhi\u00ean, cu\u1ed9c tr\u00f2 chuy\u1ec7n r\u00f5 r\u00e0ng \u0111\u00e3 v\u01b0\u1ee3t qua c\u00e1c th\u1ea3o lu\u1eadn l\u00fd thuy\u1ebft.<\/p>","

Khi c\u00e1c bang th\u1eed nghi\u1ec7m v\u1edbi c\u00e1c d\u1ef1 tr\u1eef t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1 v\u00e0 ch\u00ednh ph\u1ee7 li\u00ean bang \u0111i\u1ec1u h\u01b0\u1edbng chi\u1ebfn l\u01b0\u1ee3c t\u00e0i s\u1ea3n qu\u1ed1c gia c\u1ee7a ri\u00eang m\u00ecnh, vi\u1ec7c t\u00edch h\u1ee3p Bitcoin v\u00e0o t\u00e0i ch\u00ednh c\u00f4ng \u0111ang tr\u1edf th\u00e0nh m\u1ed9t c\u00e2u h\u1ecfi v\u1ec1 \"khi n\u00e0o\" v\u00e0 \"nh\u01b0 th\u1ebf n\u00e0o,\" thay v\u00ec \"c\u00f3 hay kh\u00f4ng.\"<\/p>"]

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