Analysis: Trump's embrace of bitcoin could be the biggest "pull-up sell-off" in history
2025-01-17 09:18:02
Gary Smith, professor of economics at Pomona College, and Jeffrey Funk, winner of the NTT DoCoMo Prize in Mobile Science, wrote that Trump's embrace of Bitcoin, or the largest "pull-up-and-sell" in history, would surely drive up the price of Bitcoin if the US federal government spent trillions of dollars buying it. But how can the US government pay off the national debt by buying Bitcoin at an overvalued price? Perhaps Trump envisions a "pull-up-and-sell". In a "pull-and-sell" scam, a group of scammers spread false rumors about investments while trading at ever-higher prices to attract credulous people. When the price is inflated, schemers sell their holdings to those victims.
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