Trump promised a crypto revolution. Why is bitcoin crashing? : NPR
SCOTT SIMON, HOST:
President Trump got elected with a promise to make the U.S. the crypto capital of the world. But more than a year later, things for cryptocurrencies keep getting worse. The price of bitcoin is now trading lower than when Trump got elected for a second term. We’re joined up by NPR’s senior business editor, Rafael Nam. Rafael, thanks so much for being with us.
RAFAEL NAM, BYLINE: Hey, Scott.
SIMON: How bad a decline are we talking about?
NAM: Oh, it’s pretty bad out there right now. I mean, at one point this week, Bitcoin fell to as low as about $60,000 per coin. So about half its value just about four months ago, when it hit a record high.
SIMON: What happened?
NAM: Well, let me summarize it in two…
