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…you are clearly conflating Bitcoin and “crypto” here. Bitcoin has exactly nothing to do with Trump, or his shitcoins.
Well its indirect. Bitcoin is crashing in part because hardware prices have been going up due to AI investments. AI investments are up in part because republicans and trump have been trying to make AI regulation impossible.
Bitcoin is crashing because everything is crashing. Hardware has nothing to do with it. Bitcoin hasn’t been mined with typical commercial hardware for over 5 years. They use ASIC’s whose prices have been not been heavily impacted by AI investments as they can not be used for AI purposes.
AI Hardware affects investments include like 600% rises in RAM in some areas which will affect node costs. Though bitcoin is probably most affected by rising utility costs, also driven by AI spending.
Bitcoin essentially acts as a secure, portable, and transferable hedge against the crumbling of the American empire. Also would work well if you had to flee across international boarders and seek asylum elsewhere because the fascists are getting away with it. Gold kinda does the same thing, but its a PITA to transport and offload.
How is it a secure hedge if its value isn’t tied to anything?
It could be interpreted as trust in the Dollar if gold starts falling, too.
