The following is an excerpt from JOHN KIMELMAN | May 22, 2017 | Barrons.com |
It doesn’t appear that Donald Trump has ever publicly offered an opinion about bitcoin, the digital currency that hit an all-time high Monday.
But there is much about bitcoin’s rise that the president must surely take delight in.
For one, both bitcoin and the president are iconoclasts and outsiders, gaining much of their support from people who openly question the competency of government institutions like the Federal Reserve.
Both --- at least for now – have climbed a wall of skepticism, upstaging well-credentialed doubters from the political and financial establishment at almost every step of the way. Along the way, both have certainly had their reversals of fortune.
But Trump, who was derided when he announced his candidacy in 2015, pulled a political upset against Hillary Clinton and became the 45th president. And bitcoin, which only began trading seven years ago, traded for under $450 last May and thus has more than quadrupled since then.
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