jcdejongh on Nostr: I understand that people are pessimistic about Bitcoin's short-term price action if ...
I understand that people are pessimistic about Bitcoin's short-term price action if Harris wins the US election in November; however, the perception that the Biden-Harris administration has held back Bitcoin's price may not hold up to scrutiny.
On election day Nov 3, 2020, Bitcoin's price was about $14,500 and on Biden's inauguration day Jan 20, 2021, Bitcoin's price was about $39,500. Under Biden-Harris, Bitcoin's price spiked to an ATH over $73,000 in the spring of 2024.
In addition to the approval of the ETFs, which clearly contributed to the new ATH, the Biden-Harris administration has successfully prosecuted and convicted former FTX CEO Sam Bankman-Fried and other executives along with former Binance CEO Changpeng Zhao (CZ) on criminal charges.
Former Celsius CEO Alex Mashinsky has been arrested and charged with fraud and U.S. regulators have targeted former Voyager Digital CEO Steve Ehrlich with lawsuits claiming he engaged in fraud and deliberately misrepresented his customers’ government protections.
The Biden-Harris administration appears to have done quite a bit to clean up the fraudsters from the previous epoch and laid the foundation for legitimate and highly regulated on-ramps and custodians with the ETF approvals.
I'm not advocating for Harris or Trump, I'm just pointing out the fact that the Money Badger doesn't care who wins. As LynAlden (npub1a2c…w83a) says, nothing stops this train!
On election day Nov 3, 2020, Bitcoin's price was about $14,500 and on Biden's inauguration day Jan 20, 2021, Bitcoin's price was about $39,500. Under Biden-Harris, Bitcoin's price spiked to an ATH over $73,000 in the spring of 2024.
In addition to the approval of the ETFs, which clearly contributed to the new ATH, the Biden-Harris administration has successfully prosecuted and convicted former FTX CEO Sam Bankman-Fried and other executives along with former Binance CEO Changpeng Zhao (CZ) on criminal charges.
Former Celsius CEO Alex Mashinsky has been arrested and charged with fraud and U.S. regulators have targeted former Voyager Digital CEO Steve Ehrlich with lawsuits claiming he engaged in fraud and deliberately misrepresented his customers’ government protections.
The Biden-Harris administration appears to have done quite a bit to clean up the fraudsters from the previous epoch and laid the foundation for legitimate and highly regulated on-ramps and custodians with the ETF approvals.
I'm not advocating for Harris or Trump, I'm just pointing out the fact that the Money Badger doesn't care who wins. As LynAlden (npub1a2c…w83a) says, nothing stops this train!