Yawn.
Bitcoin continued its relentless surge higher, climbing above $88,000 for the first time, boosted by President-elect Donald Trump’s embrace of digital assets and the prospect of a Congress featuring pro-crypto lawmakers.
Trump’s decisive victory in the presidential election has prompted celebratory chest-thumping from the digital-asset industry, which spent over $100 million backing a range of crypto-friendly candidates. Bitcoin has surged more than 30% since last week’s election, setting record highs almost daily.
The digital ponzi scheme is in some kind of blow-off but if it has any underpinning as digital gold, a marginally less dubious claim to asset class status, then it is about to crash.
Analogue gold has already reversed downwards.
That BTC bros are down for Trump fellatio doesn’t change the fact that crypto is completely useless and stands in opposition to fiat currencies run by governments that can and will crush it the moment it becomes useful.
