President-elect Trump launched his own cryptocurrency overnight and swiftly appeared to make more than $25 billion on paper for himself and his companies.
Why it matters: The stunning launch of $TRUMP caught the entire industry off-guard, and speaks to both his personal influence and the ascendancy of cryptocurrency in his administration.
- It also speaks to the nature of the crypto industry that someone could have $25 billion worth of something that literally did not exist 24 hours previously.
But GDP is not the price of an asset, it’s a metric to measure the economic activity.
Is it really that hard to understand? The price is dictated by markets… Like with stock and other speculative assets. It’s a little bit wilder, possibly due to anonymity and wild promotion on various platforms (like youtube) etc. But in it’s essence it’s still a market…
the price of an asset (when the asset is the currency itself) is based on its economic activity. You said so yourself. The price is dictated by markets. By how much is bought and sold on markets. That is the definition of economic activity. Which part of that do you not understand?