Hiltzik: Despite Trump, it’s a bad year for crypto
With Donald Trump’s election as president, the cryptocurrency community saw blue skies ahead.
The election sent the price of bitcoin to a record high, exceeding $75,000. After all, during the campaign Trump had vowed to make the U.S. the “crypto capital of the planet” and to create a “strategic reserve” of bitcoin. He and his family members formed World Liberty Financial, a crypto trading firm.
Within three days of his inauguration, Trump issued an executive order promoting the expansion of crypto in the U.S. He denigrated enforcement efforts by the Biden administration as reflecting a “war on cryptocurrency.”
Bitcoin and other crypto assets are once again demonstrating that they are among some of the first assets to…
