Trump’s crypto reserve could create a market bubble
Elon Musk and Donald Trump are still trailing their auditing trip to Fort Knox, to figure out what’s gold bullion, and what’s gold spray-painted polystyrene blocks. But the question circulating on Sunday was more esoteric than whether there is still any gold in the US Treasury: namely, what is the digital equivalent of Fort Knox? Is there a wallet yet made that could safely hold $100 billion?
Yesterday, the US President announced a “new strategic reserve” of cryptocurrency. This would, he claimed in a post on Truth Social, make the US “the Crypto Capital of the World”. Immediately afterwards, the prices of the five coins he named in the initial reserve — Bitcoin, Ethereum, XRP, Solana and…
