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. But its boosters never tire of portraying bitcoin as a legitimate asset, worthy of institutional adoption.
In that regard, it was the reaction to Trump’s brush with death rather than to his electioneering that best captures the bitcoin story.
On the first working day after the attempted assassination of the 45th president of the United States, bitcoin surged above $63,000 having traded $10,000 lower earlier in July. In an interesting case of symmetry, that two-week high was $10,000 lower than the record level recorded in March.
Also notable was the fact that the dollar was almost unchanged after the incident in Pennsylvania.
Carlos
