President Trump was very bullish about his decision over the weekend to create a ‘crypto reserve’. It will legitimise crypto currencies, he said. It will turn the United States into the global hub for trade. And it will build the national wealth. In effect, the American government will build up a stock of Bitcoin and other digital currencies, much like the gold held in Fort Knox. But Trump’s promise is too good to be true: it is a dangerous scam.
Trump’s crypto reserve will be wide open to market manipulation by the tech tycoons around him
‘I will make sure the US is the Crypto Capital of the World,’ Trump wrote on Truth Social. ‘We are MAKING AMERICA GREAT AGAIN.’ The idea was pushed on the campaign trail, but Trump has now gone a step further, announcing the ‘currencies’ they plan to stock in the reserve, including bitcoin, solana, and ethereum. Not surprisingly, bitcoin rose 11 per cent on the news, while cardano, one of the smaller tokens on the list, rose 71 per cent.
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