The significance of Bitcoin is deeper that just that it is the leading cryptocurrency. The technological underpinnings of Bitcoin are fueling all sorts of innovations. From Jeffrey Tucker at The Epoch Times via zerohedge.com:
Last week saw every manner of wailing and gnashing of teeth about the so-called meme coin of the Trump campaign called $TRUMP. It was created three days before the inauguration, soared to a $50 billion market cap, and settled down, with half the owners new to the crypto market.
Another coin is $MELANIA, and it followed a similar path.
We’ll see if these have much of a future, but they sure did generate commentary, with even people inside the industry furious that the coin exists at all.
Others described this as nothing short of corruption and a very bad sign that Trump has linked arms with a wealthy tech set and is using those contacts to pad his personal wealth with $TRUMP as the main case in point.
The new tokens were floated by CIC Digital LLC and Fight Fight Fight LLC, both Trump family companies. Yes, Trump stands to benefit but only if the initial investors cash out right now. The market capitalization is not the same as profits.
The high dudgeon of opposition surrounding this product is quite ridiculous, in my view, and telling because nothing else that the Trump team has done has generated this level of frenzy. People rolled their eyes at the gold sneakers, the non-fungible trading cards, and the “Fight, Fight, Fight” cologne. Somehow, when the exact same marketing approaches are deployed within the spooky land of crypto tokens, everyone loses their minds.
Read that Fartcoin is worth $847 million.
Trump just wants to be first duh winning in case BRICS+ succeeds?
This just in from Cryptworm:
Engulfed By Gurgling Purge Fluids