Donald Trump’s Bitcoin Reserve Would Rip Off Taxpayers
Does the US government need a strategic reserve dedicated to Bitcoin, as President-elect Donald Trump seems to be contemplating? At risk of oversimplifying: no. In fact, the idea looks like the biggest crypto rip-off yet.
Bitcoin has soared more than 50% since Nov. 4, topping $100,000 in part on hopes that crypto advocates — having donated some $135 million to Trump and dozens of successful congressional campaigns — will persuade Trump to make the reserve a reality. Much depends on the details.
