How Long Will the Trump Crypto Boom Last?
Last week, after Donald Trump announced that he would nominate Paul Atkins, a cryptocurrency advocate, to head the Securities and Exchange Commission (S.E.C.), the price of a Bitcoin topped a hundred thousand dollars, and crypto enthusiasts celebrated. The mood in the crypto markets reminded me of the dot-com boom, along with its inevitable bust, which I chronicled in a book more than twenty years ago. There was the same giddy excitement, the same predictions that prices could still go higher, much higher, and the same uneasy feelings among some longtime market participants and observers, me included.
To be sure, there was ample reason for excitement among crypto investors, crypto entrepreneurs, and pro-crypto donors who gave hundreds of…
