And Bitcoin will be buoyed for about a week… then it will start falling back toward… $50,000… then $40,000.
Y A W N.
His Fail-Son has convinced him that ones and zeros are the same as mined Au, or actual gold.
And… since the US Government holds about one-sixth of the known mined, and refined gold in its strategic reserves at Ft. Knox, the Team Tangerine has hit upon its latest grift: sell four (or five, if one counts the Shkreli / Baron pseudo-one!) coins/NFTs, while touting a stack of ones and zeros — as being the same as titanium and silver and palladium and… real gold.
[That will support the price of his NFTs until he can “rug-pull” a few hundred million fiat dollars out of his lemming’ wallets in November. Same notion, as his actual “DJT” stock, the Truth Social holding company. He will dump large chunks of his 67% interest in mid September, when his lockup expires — leaving his minions holding the bag. That’s a $0.30 stock trading at $30, today.]
Bitcoin is not a strategic asset. There is no danger to “letting” China become the world’s foremost miner of Bitcoin (at the moment, mining it is punishable by long, hard labor prison sentences in country — under Xi’s legal regime). We will never “need” a supply of Bitcoin, and if we do — all the government need do… is decide to hold (not sell, on the spot markets) the various stacks of forfeited Bitcoin (from crime proceeds) it seizes every dang day.
Me? I advocate the US’s selling it off, as the price spikes — like now.
Oh. And, do stay tuned for Wednesday night, when Riot discloses (AGAIN!) vast losses per share from operating activities.
Hilarious!
Powerline Lies... 