U.S. Crypto Reserve? lol, maybe work on a U.S. Egg Reserve first
Reposted from
Matt Novak
Trump says he’s moving forward on a crypto reserve, calling out Ripple, Cardano, and Solana by name. It’s unclear why he didn’t mention bitcoin, which is the obvious favorite.
Comments
Central Banks and governments need to find a way to regulate and control this somehow, some way.
crypto, by contrast, lasts about 18 nanoseconds
All he did was fire a bunch of American citizens. Does he have dementia? Does he think the Oval Office is the board room from his apprentice years?
Bitcoin began very low priced. It's now going for ~$85K for 1. There are other crypto coins, all varying values.
You'll probably find alot of articles explaining it.
In short. Rich folks buy a new crypto when its demand is low and it cost very little. Say $1 per coin for ex. Rich folks buy a ton. 1 million coins for $1,000,000....
You son heard about this and bought 1,000 coins when the price was rising at $4 per coin for $4k total... but now the coins are only worth $1k and he lost $ on the "rug pull".
This is the risk of crypto.
Unfortunately, the money he makes is earned at the loss of someone else's. Its basically mixing the stock market and gambling, based on the principles of supply and demand.
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Trump’s “crypto reserve” will increase the price of crypto, which like other Trump policies, will only benefit the most wealthy people in America (and China).