$TRUMP ain't no BTC
Trump is promoting the purchase of $TRUMP, and yet Trump Media is only buying BTC
I won’t say that Trump is stretching the powers of being the POTUS because that would suggest we have a president. I can’t really say that Trump is breaking laws because dictators don’t need to follow the rule of law. Trump is using the powers of a dictator to make money from currencies much the way the King of England did before the USA created the Constitution of The USA.
Trump’s engagement with cryptocurrency makes this obvious.
President Trump hosts dinners in the White House to promote the purchase of $TRUMP cryptocurrency. The coin’s value jumps dramatically.
Trump Media & Technology Group (owner of Truth Social) announces that it is investing $2.5 billion to buy and hold cryptocurrency on its balance sheet.
Trump Media is 100% all in as a BUYER of Bitcoin (BTC). President Trump is 100% all in as a SELLER of $TRUMP. Think about that for a moment.
Can there be anything that makes it more obvious that $TRUMP is simply a tool for funneling money into Trump's private accounts in exchange for favors from a man with the powers of the POTUS?
$TRUMP attracts massively wealthy investors (USA billionaires and Middle East Princes) who expect to lose most of their money. The only ROI they are looking for is leverage with POTUS Trump. There is no real effort to hide this, dictators don’t need to. The funny, not-funny thing is that $TRUMP also attracts retail investors who are quite simply stupid about how they invest their money.
If Donald Trump, the Trump Organization, or Trump Media thought that $TRUMP had any tangible value beyond POTUS grift, they would have helped that coin immensely if they bought at least some of it with Trump Media's $2.5 billion investment.
They did not do that. They also did not put a dime into DOGE which Trump has endorsed many times to the point of letting Musk call the bizarre government efficiency department DOGE. (And yes, when this name for the government agency was announced, the demand for the DOGE coin went up. MAGA investors are no more on-the-ball than MAGA voters.)
Bitcoin is different from every other form of cryptocurrency. Bitcoin's use cases are hotly debated but the use cases are clear, tangible, and gaining momentum. Bitcoin's supply is not controlled by any company or person. Bitcoin's price can only be influenced by the buyers and sellers - there is no creator with self-serving objectives. Bitcoin is a blockchain that no hacker can break and no “owner” can exploit.
$TRUMP is none of those things.
The way that president Trump is using $TRUMP to make citizen Trump wealthy is unquestionably and blatantly illegal. Every member of Congress can see this plainly. That’s all irrelevant so long as we are living under Dictator Trump.
NOTE: This is not investment advice. Personally, I believe that investors concerned about the long term value of the dollar and/or the long term commitment of the USA to servicing its debt should study up on how financial advisers describe the value of gold and then seriously consider applying that logic to Bitcoin. That said, don’t take my advice, ask your financial advisor.