So it appears that the federal government can trace cryptocurrency to its source or to its holder and take what they want. They just did it to the hackers that got Colonial Pipeline.
They’re going to start doing it to anybody that is hacking and holding ransom demanding cryptocurrency and payment.
This also proves what I have said all along that it is not a true storehouse of value that cannot be corrupted or taken by the government.
So if you watch it go down to the value of the dollar that is probably the reason why.
Or maybe it’s because people are beginning to realize that it’s all smoke & mirrors and that real money should be invested in solid value and growth. Equities, real estate, precious metals, etc.
The same rule applies to meme stocks and the tactics used by Reddit Traders. The SEC will be stepping on your toes very soon. Trust me.
I’ve shared my favorite quote from Dennis Gartman in numerous posts on this platform - 'Never invest in anything you can’t drop on your foot’.
Just in case you missed it. 😎
Enjoy your summer 😉