Trump pumps the crypto crowd

The spike in bitcoin after the shooting at a Donald Trump election rally was a reminder that for all the claims of increased maturity, the world’s largest cryptocurrency remains unpredictable.

If there is one thing Donald Trump knows, it is how to work a crowd. At the bitcoin conference in Nashville in July, he pumped the crypto congregation like a master faith healer. He promised to end their persecution, to sack SEC chair Gary Gensler and to establish a government bitcoin reserve.

It was all hands in the air, huge cheers and praise be.

Well, the US government already owns a lot of bitcoins. These are ones it has seized from their main users, following criminal investigations.

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