The Secretive Push to Spend Billions of Taxpayer Dollars on Bitcoin Investments

The Dark Money Plan to Spend Your Tax Dollars on Bitcoin

According to The Lever, a controversial plan is being pushed by right-wing fossil fuel operatives who are advocating for President-elect Donald Trump and state governments to invest billions in Bitcoin. This initiative, led by the Satoshi Action Fund—a group with ties to the Koch Network—aims at using taxpayer dollars and workers’ retirement funds for purchasing volatile cryptocurrency assets. The strategy could potentially increase energy demands significantly due to Bitcoin mining's high electricity consumption.

If successful, this move might drive up Bitcoin prices dramatically, benefiting those few who own most of it. A prominent crypto-enthusiast suggests that if the federal government adopts a Bitcoin reserve, each coin’s value could exceed $1 million. However, critics like Mark Hays from Americans for Financial Reform warn against such plans as they pose financial risks without solving existing problems.

Why Robinhood And Coinbase Had A Very Big Week

Investor's Business Daily reports that both Robinhood Markets (HOOD) and Coinbase (COIN) experienced significant stock rallies recently due in part to their involvement in cryptocurrencies. Analysts have shown optimism towards these platforms amid expectations of looser regulations under Trump's administration which favors digital currencies. Morgan Stanley has identified Robinhood as a top pick citing its growth potential within cryptocurrencies while Oppenheimer views recent sell-offs of Coinbase stocks as buying opportunities given anticipated regulatory clarity.

This surge comes alongside an impressive rise in Bitcoin prices reaching over $104,000 ahead of Trump's inauguration, signaling positive sentiment among investors regarding his pro-crypto stance.

Crypto ETFs: Are They Worth Investing In Now?

A report from Investor's Business Daily highlights how Crypto ETFs are gaining traction following news about President-elect Donald Trump possibly prioritizing cryptocurrencies nationally once he takes office next week. This has consequently boosted the performance of several related exchange-traded funds lately despite previous market volatility concerns post-election. Last year, fears arose around Federal Reserve rate cut delays impacting investments negatively across sectors, including technology-driven ones like blockchain-based solutions offered through various ETF options today. These options offer diversified exposure into multiple underlying asset classes beyond just traditional equities, making them attractive alternatives amidst ongoing economic uncertainties globally, especially considering limited supply factors influencing pricing dynamics. This further enhances their appeal among risk-tolerant audiences seeking higher returns, albeit accompanied by elevated levels typically found within rapidly evolving nascent industries promising substantial long-term upside potential.

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