Now Trump could turn off Bitcoin's price like a light switch because so much is riding on his personal whims.
Sure. He could try, and maybe he would be successful, depending on whatever policy that he announces or action that he takes. But so what?
It's just a crazy state of the world, that's all. Bitcoin started off as a means of thwarting government control over transactions, and now it's a football in US politics that will live and die by whatever political winds are blowing here.
Maybe saying that it is irrelevant what the USA think and do about bitcoin would be too absolute terms, but he doesn't have much influence over it. Bitcoin will live and die without Trump, if for some other reason it is to die. But not because of Trump lol. This is the next China propaganda from 2014 when they want to ban it and they failed. Biggest country in the world in regards to population with one of the strictest governments in the world was not able to ban bitcoin in their country in the slightest. It was a huge fail.
I don't know if Trump still wants the strategic bitcoin reserve, but that they used the inauguration moment and the publicity to launch memecoins for him and his wife is ridiculous.
I don't find this ridiculous at all--in fact I started a whole thread here before the election
predicting this exact thing would happen.
Repeat after me:
Bitcoin going up in price does not help Donald Trump.
Bitcoin going up in price does not help Donald Trump.
Bitcoin going up in price does not help Donald Trump.
Therefore, Donald Trump is not going care if Bitcoin goes down, and if his people figure out a way to make him billions and it screws over Bitcoin,
then that's what will happen.
No the stupid think about the memecoin he launched is that you could see this coin was put together in like a few hours and resembles that biggest scam coins in all regards. His followership will lose while his family and friends will win. This is how these meme coins are designed. Nobody can prove anything about wallet addresses, who bought what and when and so on and so forth. He has the disclaimer in his "white paper" that everyone can lose everything. There is literally zero programming, could have easily been done with an online tool and that's it and it trades at billions in market cap. It isn't Trump to decide whether bitcoin is important for the USA, it is bitcoin to decide.