When President Trump endorsed the crypto bailout idea, the price of Bitcoin vaulted to almost $100,000, hence the $100 billion figure. As criticism of the bailout idea has intensified, price has tumbled to $83,000
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It's kind of revisionism of history to call the strategic bitcoin reserve a bailout.
Bitcoin is the answer on the 2009 Fiat bailout.
Have you ever read the Genesis Block?
Did you recognize that even Trump is aware of the difference of Bitcoin and Crypto? Are you, too? https://en.bitcoin.it/wiki/Genesis_block
Crypto price today seems to be a gamble on the odds of a taxpayer bailout of the industry - which is itz own comment on what a scam the "crypto reserves" idea is.
I always felt that the entire concept of cryptocurrency was sort of a joke to illustrate the unreality of money except as a concept. It turns out that nobody's laughing.
I’m very old school so I’m into money I can see and hold in my hand or a stock certificate , as Warren Buffet said “I can say almost with certainty that they will come to a bad ending “
It's a pyramid (Ponzi) scheme, where the newcomers pay the old timers. Of course, at some point, they all collapse because there aren't enough newcomers.
The president, and some of his supporters, might place their vast personal holdings of crypto into the "crypto reserve", in exchange for most of the gold in Fort Knox.
The Valuations of "Crypto" is as much a Mystery to many, as the Valuation of AI Equities. The AI folks will tell you it's all about future earning POTENTIAL. Once legitimate needs for AI can be monetized, & humans trust that Elon Musk isn't just trying to eliminate human workers.
Comments
Bitcoin is the answer on the 2009 Fiat bailout.
Have you ever read the Genesis Block?
Did you recognize that even Trump is aware of the difference of Bitcoin and Crypto? Are you, too?
https://en.bitcoin.it/wiki/Genesis_block
[1] Anyhow, beautiful tariffs payed by other countries will finance this bailout, not the American taxpayers.[2]
[2] See what I mean.