"Is Trump getting involved with cryptocurrency again?" I checked the news; Trump publicly declared himself a "major supporter" of cryptocurrency, more so than anyone else. The White House even held a special meeting on cryptocurrency market structure.
To be honest, my first reaction was: this old man is just putting on an act again.
But thinking about it carefully, this time might be different.
The US debt is currently $32 trillion; the printing presses are practically smoking. The traditional financial system is no longer working. At this point, cryptocurrency is like a lifeline; who dares not cling to it?
Trump said he supports a cryptocurrency market structure bill and wants it legislated as soon as possible. It sounds wonderful.
The most interesting thing is that Trump denied knowing about Abu Dhabi's $500 million investment in World Liberty Financial, saying his sons were handling it. This tactic is all too familiar—wanting both. He wants to reap the benefits of cryptocurrency while distancing himself, so he has a scapegoat if things go wrong.
But this precisely illustrates a harsh reality: cryptocurrency has become so large that politicians cannot ignore it, nor can they completely control it.
You think the government embracing cryptocurrency is a good thing? Naïve.
When Wall Street and the government get involved, the good days for retail investors are over. They'll set the rules, and you can only play by them. Just like the stock market, it seems like everyone can make money, but in reality, the retail investor will always be the one getting fleeced.
The current cryptocurrency market is like the eve of the dot-com bubble in 2000. Everyone thinks they're a prophet, everyone thinks this time is different.
But history tells us that when taxi drivers start talking about stocks, the bull market is about to end. Now even the US president is talking about cryptocurrency; how much room for growth do you think there is left?
The real opportunities are never in the spotlight.
I'm not saying cryptocurrency has no future, but rather that its future may be completely different from what you imagine.
Government embrace is sometimes more dangerous than hostility. Because the purpose of embrace is often to achieve better control.
So, when you see Trump say he supports cryptocurrency, don't rush to celebrate. First, ask yourself: what do they really want?
They want more than you imagine. $BTC
{future}(BTCUSDT)