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!
"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.
From this episode
The Peter Schiff Show