TL;DR
Trump’s return coincided with a Bitcoin price drop, wiping out thousands of ‘millionaires’—a grim reminder that crypto fortunes are volatile and often illusory.
Story
Trump back in the White House? Bitcoin ‘millionaires’ vanish faster than you can say ’trade war’. 22,000 gone in a month. Poof.
‣ Bitcoin Millionaire: Someone holding $1M+ in Bitcoin. Not necessarily rich in cash.
Sounds dramatic, right? It is. But let’s dissect the hysteria. Bitcoin’s volatile. Always has been. Like a casino on steroids.
Trump’s policies—trade wars, economic uncertainty—rattle markets. Bitcoin, being the speculative darling it is, takes a hit. Prices wobble. ‘Millionaires’ on paper suddenly aren’t. It’s a bloodbath… on spreadsheets.
Remember 2008? Subprime mortgages? Same story, different asset. Blind faith meets reality. Leverage amplifies losses. Fortunes built on sand crumble. History doesn’t repeat, but it rhymes.
This isn’t about Trump, really. It’s about Bitcoin’s inherent instability. It’s about the herd mentality that inflates bubbles. Buy high, sell low—the eternal mantra of the novice investor.
The real victims? The ones who bought the hype, not the asset. The ones who chased quick riches, ignoring the flashing red lights. They learned an expensive lesson: in the crypto casino, the house always wins.
Advice
Don’t chase crypto hype. Understand the tech, assess the risks. If it sounds too good to be true, it probably is.