The MAGA movement can’t decide whether crypto is a new means of banking or merely a speculative asset class.
Last year, Donald Trump took the stage of the Las Vegas Bitcoin Conference to worship at the altar of cryptocurrency. He said he would fire Gary Gensler, the former chair of the Securities and Exchange Commission who led a yearslong crackdown on crypto fraud. The audience roared. He ended on a rousing note: “We will make America and Bitcoin bigger, better, stronger, richer, freer, and greater than ever before.”
