Krugman looks at why Bitcoin fell with the announcement of Trump's transitory tariffs on China. His argument - and of course it's a good one - is that Trump is so crypto friendly that it's tied to his political fortunes. If you think Trump will go from triumph to triumph, then crypto friendly policies will continue. If he punches himself in the dick with terrible tariffs, then crypto will suffer.
It's worth reiterating that crypto is not a currency, it's a wildly speculative security.
Because its primary functions are for drug trade, money laundering and bribes, it makes sense that Trump would support it. Those last two are huge for him.
It also feels to me like the crypto and AI bubbles are linked. If one bursts, the other will, too.
I just don't have enough confidence to short the damned stuff, because in a basically fraudulent system, this could teeter along for another year.
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