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

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

Bitget2025/01/17 09:32

Pomona College economics professor Gary Smith and NTT DoCoMo Mobile Science Award winner Jeffrey Funk pointed out that Trump's support for Bitcoin could be the biggest "pump and dump" in history. They believe that the U.S. government may foolishly buy Bitcoin at rising prices, thus facing a difficult situation to sell.

Trump's strategy seems to be creating a "pump and dump" scam, similar to a group of fraudsters pushing up asset prices through false rumors, attracting investors into the market, then selling for profit.

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

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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