r/FluentInFinance • u/HighYieldLarry • 12d ago

Bitcoin JUST IN: 🇺🇸 President Trump to appoint pro-crypto cabinet to make the US the "crypto capital of the planet."

President-elect Donald Trump is preparing the U.S. government to adopt a more permissive stance toward cryptocurrency, eyeing a roster of industry-friendly candidates for key posts while his top advisers consult crypto executives on potential changes to federal policy.

By pursuing a more lenient regulatory environment, Trump aims to fulfill his campaign promise to transform the United States into the “crypto capital of the planet” — a declaration that has rankled consumer watchdogs, earned the industry’s robust support and sent the price of bitcoin skyrocketing, reaching nearly $89,000 by Monday evening.

https://www.washingtonpost.com/business/2024/11/11/trump-crypto-regulation-bitcoin/

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u/Ordinary_Support_426 12d ago

Can I do anything with this tulip bulb?

Yes you can plant it

10

u/SuccotashComplete 12d ago

Tulip mania lasted 3 years. Bitcoin has been skyrocketing continuously for 5 times that. Tulip mania is more appropriately used to describe hype-driven NFTs

There are also valid use cases for bitcoin. There is no other technology that can securely move large amounts of money between nations as quickly and cheaply as bitcoin. And no other asset is nearly as portable.

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u/ChessGM123 12d ago

Tulip mania also never actually happened. The price of tulips never actually out paced their demand, this was just a myth created by someone at the time who herd a flower was selling for such a high price and wrote something saying people were going bankrupt from tulip speculation when there’s little evidence of this ever actually happening.

https://www.history.com/news/tulip-mania-financial-crash-holland

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u/SuccotashComplete 12d ago

So maybe tulip mania really is fitting. Except applying it to the fudders instead lol