My schadenfreude for the day is that Bitcoin's down basically as much as the NASDAQ, and if Bitcoin did what its fans said it did it would be the opposite.
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It's because crypto is becoming accepted as a tool in the financial ecosystem and NOT an alternative to it. Cryptocurrency provides a way to access finance without having to use a financial intermediary that will charge fees. It's open source money, but it's still money, so it trades like money.
Nerdy libertarians nobody likes: I’m scared of getting beat up what if we could put gold on the blockchain, but not real gold. And encrypt it so no one could steal it from us
Everyone else: *quietly buying gold and silver as a hedge*
Yep. Same thing happened during the first Canada tariff announcement. It’s clearly a speculative asset, and it will crash hard if everything else does.
I'm no bitcoin hawk (I own no crypto), but I'm genuinely confused. I'd think bitcoin would skyrocket; illegal transactions are where bitcoin seems genuinely "great," and with these tariff levels, presumably you're gonna see more illegal transactions.
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Everyone else: *quietly buying gold and silver as a hedge*