Opinion: Trump's embrace of Bitcoin may be the largest "pump and dump" in history

2025-01-17 17:04:22

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ChainCatcher news, according to Jinshi reports, Pomona College economics professor Gary Smith and NTT DoCoMo Mobile Science Award winner Jeffrey Funk pointed out that Trump's support for Bitcoin may be the largest "pump and dump" in history. They believe that the U.S. government may foolishly buy Bitcoin at continuously rising prices, leading to a dilemma of being unable to sell.

Trump's strategy seems to be creating a "pump and dump" scheme, similar to a group of scammers who inflate asset prices through false rumors, attracting investors to enter the market, and then selling off for profit.

They urge the federal government to stop participating in this highly risky strategy and instead adopt more prudent debt reduction measures, such as cutting government spending. The real way to make America "great again" is through increasing productivity, lowering prices, and raising wages and profits, thereby achieving sustainable economic growth, rather than relying on the unstable cryptocurrency market.

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