TL;DR
Trump’s ‘Bitcoin Strategic Reserve’ is a thinly veiled pump-and-dump scheme, crashing the market and leaving investors holding the bag. It’s 2008 all over again, but with Bitcoin.
Story
Trump’s ‘Bitcoin Strategic Reserve’ is another chapter in the ongoing saga of market manipulation. It’s like the 2008 crisis, but with digital snake oil.
‣ Executive Order: A presidential decree with the force of law. Trump signed one creating a “reserve” of Bitcoin seized by the government—not bought, just confiscated. Imagine a drug lord’s cash hoard becoming a ’national treasure.’ That’s the level of absurdity.
This isn’t about strategic reserves; it’s about laundering Bitcoin through a veneer of legitimacy. It’s a classic pump-and-dump, with Trump holding the pump. Remember Enron?
‣ Pump and dump: Artificially inflating an asset’s price before selling.
The market reacted predictably: Bitcoin plummeted. Anyone holding Bitcoin—especially those duped by Trump’s “genius”—lost big time.
This isn’t financial innovation; it’s the same old scam in a new digital wrapper. It confirms one thing: never trust politicians bearing financial gifts.
Advice
If a politician promises you riches with a new ‘investment,’ run. It’s probably a scam.