"move to evaluate" doesn't yet mean "will actually buy a crypto stockpile". non zero chance of a market crash before that even happens - ThreadSky

iwriteok.bsky.social • 31 days ago

"move to evaluate" doesn't yet mean "will actually buy a crypto stockpile". non zero chance of a market crash before that even happens

Reposted from NBC News

President Trump announces his administration will move to evaluate the creation of a "national digital asset stockpile" — making good on a promise to support the use of cryptocurrencies like bitcoin.

Comments

streetcatwilly.bsky.social•30 days ago

Didn’t Hawk Tuah Girl show everyone how to commit fraud in less than 24 hours?

timetravel.camp•31 days ago

We’re still in the “pump” phase of the pump-and-dump.

dragnflite.bsky.social•31 days ago

I'm so worried about when to move my 401k to safer investments.

donnyboy43.bsky.social•30 days ago

Did you catch the story about Warren Buffet stockpiling cash in December? He knows what’s coming.

katrinathelamia.bsky.social•31 days ago

I've been moving to evaluate washing my dishes for some time now

saddestclown.bsky.social•31 days ago

they will use taxpayer money to artificially inflate the currency they hold, so they can extract their holdings for maximum profit and leave the united states holding an over inflated fake currency that nobody wants to buy at that price, rendering it completely valueless to even the true believers.

monkeymind67.bsky.social•30 days ago

And it just so happens there’s a handy dandy crypto coin with his name on it folks! Now I’m no big time Wall Street investor (audible gasp from crowd) but this is the safest, surest thing to generational wealth I’ve ever seen! A sure fire winner! And it just so happens I’m willing to sell you some!

videojames.bsky.social•31 days ago

Doesn't the market crash monthly by now?

sgcillo.bsky.social•31 days ago

Yeah but you're not pardoning the Dread Pirate and not stipulating the location of those keys as a quid pro up.

alexrrr.bsky.social•31 days ago

i feel like whoever wrote that article owns bitcoin and just wanted a reason for it to go up in value today. nothing like unregulated capitalism

donnyboy43.bsky.social•30 days ago

The entire crypto community has been waiting for the announcement since November. Most of the talking heads response so far has been “… well, shit.”

gloomygus.bsky.social•31 days ago

Hearing there's a lot of crops going unpicked right now. Not good!

mixie943.bsky.social•31 days ago

His final bankruptcy will be the United States

igneoussigil.bsky.social•31 days ago

BUY THE DIP

ottonymos.bsky.social•31 days ago

Unironically though, yeah. They would want it to crash out right before the government buys in.

yrabl.bsky.social•31 days ago

That means that the fed will purchase his coin from him instead of bitcoin

teeth077.bsky.social•30 days ago

I hope he buys billions of $Trump coin because it would perfectly symbolize the fact that nothing matters anymore.

donnyboy43.bsky.social•30 days ago

The whole thing with that grift is that he already holds 80% of the existing tokens. That’s what makes it a rug pull. The price gets inflated by retail, then the locked holders sell, leaving retail with a crypto they cannot sell because they ARE the liquidity. It’s much worse than folks think.

teeth077.bsky.social•30 days ago

Yep, and same goes with the "Bitcoin reserve" which is just a bailout to Bitcoin holders who will dump as soon as the ink is dry, leaving the tax payer with (literally) no thing. The greatest grift ever grifted.

jessssssse.bsky.social•31 days ago

MMT without the risk of helping anybody

doctormurder.bsky.social•30 days ago

It's a very obvious attempt to turn cryptocurrency, a worthless and completely speculative asset, into cold hard cash. It's a fucking grift to turn made up fucking bullshit into profit. It will crash the economy

buddyduffman.bsky.social•31 days ago

Watch them prioritize his meme coins

mwiznuk.bsky.social•31 days ago

Hypothesis founded on nothing:
weirdos in Trump orbit convinced him to invest gov funds in crypto because the whole thing is a house of cards about to collapse. They're 2-4 months away from getting on his bad side and getting that money pulled, crashing the whole thing.
Or one can hope at least.

uncouthulu.bsky.social•30 days ago

Crypto is great for buying drugs on the markets if you are in a state where they aren't available at a dispensary or incredibly overpriced.

ddungeondiving.bsky.social•30 days ago

concepts of a plan

zverina.com•31 days ago

Make America Great Depression Again

donnyboy43.bsky.social•30 days ago

It’s just another thing like the health insurance “fix.” He’s telling crypto investors “yea, we’ll get to it. Thanks for the votes, now go fuck off somewhere else while I work.”

spydermayhem.bsky.social•31 days ago

I will be very conflicted re: the tiktok star that manages to rugpull the federal government

its.small.patatas.ca•31 days ago

Ya I'm also expecting a major "sell the news" event

lynndaj.bsky.social•26 days ago

Most of us can't afford crypto crap.

kavehk.bsky.social•31 days ago

Iirc he never even said that the US would have a “crypto stockpile”. More along the lines of not selling the Bitcoin they seized.

iwriteok.bsky.social•31 days ago

Yep

darkarfs.bsky.social•31 days ago

Why is every article about him accompanied by a photo of his huge declarative yawp?

slimhickman.bsky.social•31 days ago

here's the long view... they are going to use crypto to make $$ and then when small folks lose everything they will lean into govt bailout. its a plain cash grab on the front and back

hike-ski-camp.bsky.social•30 days ago

NBD

Just feeding into the rot economy - and setting up the biggest rug-pull in history...

rat-bag.bsky.social•31 days ago

Dude just put out two shitcoins, there's a pretty obvious grift here tho

illiliiiil.bsky.social•30 days ago

I'll give you one guess which shitcoin will be featured in this stockpile.

batlock666.bsky.social•30 days ago

Turn the federal government into the ultimate bagholder.

mellowbrown.bsky.social•31 days ago

The US already has a stockpile of Bitcoin from the Biden administration from the "seizing of Oligarch assets" chapter of the early days of the war in Ukraine...

So, they have full incentive to tank the market.

sparkcj.bsky.social•31 days ago

I hate and am amused at the little Mises gold bugs that wanted currency to be back on the gold standard, only to have a bunch of nerds go "LOL, we're going to burn the world with power hungry silicon and convince a bunch of idiots they should base regular currency on it. Atmosphere go BRRRRRRRRR"

coldspy.bsky.social•30 days ago

Can’t wait for the president to invest federal money into his own shit coins then rug pull the entire country.

dexaddams.bsky.social•30 days ago

Might as well be magic beans at this point.

persianx6.bsky.social•31 days ago

For good measure? Let's get rid of the FDIC too!

grippysockgoblin.bsky.social•31 days ago

The funny part is if you read Cynthia Lumis’s statement she’s the one who will be doing all the work trying to pass a legal framework through Congress. Nothing happens if it doesn’t get to his desk.

He always knows how to sell a dream, make some stupid statement, and give someone else the work.

grippysockgoblin.bsky.social•31 days ago

And the media is always happy to say non sense like “making good on a promise” when he didn’t actually do a damn thing.

robotbear.bsky.social•31 days ago

I get your point Robert but I saw this interview yesterday and the connection between crypto and fascism seems notable. Yeah he’s at the evaluate stage but maybe we’re being pulled into the really bad waters?

summergirl505.bsky.social•30 days ago

I listen to James O'Brian every day just about.

inn3rpanda.bsky.social•31 days ago

i’m just imagining sonic getting poked and emitting a coin supernova

dana-dv8.bsky.social•31 days ago

Isn’t the market (somewhat) less likely to crash if he keeps saying stuff like this? That might help his meme coin, too.

iwriteok.bsky.social•31 days ago

I am talking about the real market

dana-dv8.bsky.social•31 days ago

Ah, understood. Yeah, fair point.

chriskittens.bsky.social•31 days ago

What happens to the value of crypto currency if the US dollar collapses in the next four years? Is it overly cynical to think that the crypto bros around trump would potentially benefit from a currency crisis?

lonsuder.bsky.social•31 days ago

the iran-contra scandal could have been avoided altogether.

rogueyankee.bsky.social•31 days ago

I'm sure this is a priority for the MAGAs in those rust belt diners.

voidpuppy.bsky.social•30 days ago

He's a god damned idiot

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