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Trump Turns Bitcoin Into Test of Patriotism
(gizmodo.com)
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this post was submitted on 12 Jun 2024
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Bitcoin is only a few points off it's all time high... Who's getting scammed by that?
(On the other hand I would recommend switching to a sustainable crypto.)
What I expect will happen: have his followers buy in at current high price point -> price goes higher -> him and his rich whale friends sell -> price goes down -> the people who just invested because he promised big stonks but realistically can't afford to leave their money in for years panic and sell -> price goes down -> him and rich friends buy in again.
Sure, it's mostly his followers getting scammed, but if this does happen I can't imagine them not vocally blaming BTC for losing their money - which would likely fuel the crypto is a scam narrative.
Maybe his words are not influential enough to actually sway the price and nothing will come of it though, but based on the previous things he has done (his NFTs, the truth social stocks) if he has the opportunity to take money from his supporters, he certainly will.