Bitcoin is pretty widely traded, though. By some accounts, it has a daily trading volume of 50B. 2B is just a drop in that bucket, so it’s not enough to directly manipulate the price.
No, if you want to make money by manipulating prices, you use a shitcoin. $TRUMP has a market cap of $2.5B, and a daily trading volume of 500M. A $2B investment in BTC can then be used on dodgy exchanges to buy and sell $TRUMP anonymously.
The price manipulation in this case is suggesting that the president of the US is investing into BTC, not the price increasing because of the purchase.
Oh. Absolutely, the President shouldn’t be doing this at all. But then again, the President also seems to be using tariffs to directly manipulate the stock market, and Congress is just going to let him.
He’s grabbed the entire Republican party by the pussy…
IllNess@infosec.pub 4 weeks ago
They will raise the price and dump it. It’s an unregulated way for his billionaire friends to steal money from the poor.
dhork@lemmy.world 4 weeks ago
Bitcoin is pretty widely traded, though. By some accounts, it has a daily trading volume of 50B. 2B is just a drop in that bucket, so it’s not enough to directly manipulate the price.
No, if you want to make money by manipulating prices, you use a shitcoin. $TRUMP has a market cap of $2.5B, and a daily trading volume of 500M. A $2B investment in BTC can then be used on dodgy exchanges to buy and sell $TRUMP anonymously.
lennee@lemm.ee 4 weeks ago
The price manipulation in this case is suggesting that the president of the US is investing into BTC, not the price increasing because of the purchase.
dhork@lemmy.world 4 weeks ago
Oh. Absolutely, the President shouldn’t be doing this at all. But then again, the President also seems to be using tariffs to directly manipulate the stock market, and Congress is just going to let him.
He’s grabbed the entire Republican party by the pussy…