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That's A-S-S-S-C-A-M-P.com. Welcome to Money for the rest of us.

This is a personal finance show on money, how it works, how to invest it, and how to live without

worrying about it. I'm your host, David Stein. Today is episode 513. It's titled

Crypto, Innovation on Sanity,

meme coins, hacks, and strategic Bitcoin reserves. For many years, the United States has had

a strategic petroleum reserve. It's the world's largest supply of emergency crude oil,

according to the Department of Energy. The oil is stored

in huge underground salt caverns at four sites along the coastline of the Gulf of Mexico,

sometimes known as the Gulf of America. There's capacity to store 714 million barrels. The point of the Strategic Petroleum

Reserve is to sell oil competitively in the open market when prices are high. Increase the supply

because oil is used in the private sector for transportation, for other

energy uses and manufacturing. The supply of oil can be disrupted, such as in June 2011 when

President Obama directed the sale of 30 million barrels of crude oil to offset the supply disruptions due to unrest in Libya.

Last July, in the U.S. Senate, a bill was introduced to establish a strategic Bitcoin reserve.

The point of the bill was to provide for the acquisition and storage of the cryptocurrency

Bitcoin by the U.S. government.

...