Have fun with crypto, says Brett Arends: But you are better off wagering your money at the race track. At least there you can see the horses
Donald Trump’s comments about bitcoin and the other cryptocurrencies on Thursday were right on target.
The president made his comments after palling around with techies at a “social media” summit at the White House. Bitcoin has trebled so far this year, and is back above $10,000. Cryptocurrencies are like a virus that won’t die. They keep metastasizing. There are still more than 2,000 cryptocurrencies in existence, and their theoretical total value is about $318 billion — more than the value of Procter & Gamble PG, +0.53% , and only slightly less than that of Exxon Mobil XOM, +0.08% .
But they can’t contradict a single one of his arguments. He’s right. He’s so right, his comments are truisms. The naive who rail against regulation and big government need to study more about what the world was like before these terrible, terrible things came along.
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