President-elect Trump launched his own cryptocurrency overnight and swiftly appeared to make more than $25 billion on paper for himself and his companies.
Why it matters: The stunning launch of $TRUMP caught the entire industry off-guard, and speaks to both his personal influence and the ascendancy of cryptocurrency in his administration.
- It also speaks to the nature of the crypto industry that someone could have $25 billion worth of something that literally did not exist 24 hours previously.
people don’t use bitcoin to pay for other stuff. people buy and sell bitcoin itself. The currency is the asset.
That isn’t true, it is used albeit of course more for speculation, than FIAT.
Guess what, FIAT money like the dollar and euro are also assets, and the same is true for that as well. Though Inflation is usually controlled by central banks.