Money
Bitcoin Down 16% Weekly as Trump Appoints Fannie Mae Chief to National Security
The Peter Schiff Show
The Death Spiral Has Begun... Bitcoin, Tech, and Stretch All Cracking!
What was said
"Bitcoin dropped 16%, 16% on the week. Most of the decline Yesterday and today, but 16%. It's now down 33% on the year, although it is bouncing back. So it's maybe— I looked at those numbers before the rally, so I guess it's not down quite as much now. But intraday, the low for Bitcoin was just over $59,000. So we took out the low from February of this year."
Bitcoin suffered a 16% weekly decline and is down 33% year-to-date, erasing all gains from Trump's election victory. Schiff connects this to broader instability as Trump appointed Bill Pulte—previously running Fannie/Freddie—to lead national security on an interim basis, spooking investors who had bet on a Fannie/Freddie IPO windfall.
Verification status
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- Programme
- The Peter Schiff Show
- Episode
- The Death Spiral Has Begun... Bitcoin, Tech, and Stretch All Cracking!
- Clip time
- 20:20
- Original source
- Watch the source segment →
From this episode
The Peter Schiff Show