The “Trump Pump” is causing Bitcoin’s value to rise rapidly, with everyone feeling euphoric; however, this is not a cause for celebration. Institutions, high net worth individuals, and this administration are entering the market to make a profit and maintain control, not to promote Bitcoin’s original purpose of sovereignty and freedom.
This run poses an existential crisis for Bitcoin, as these newcomers have more influence than long-term users. If Bitcoin becomes a financialized asset controlled by these institutions, their interests will dominate consensus. If Bitcoin is to thrive, users must either convince these newcomers of its true value or fork off into a less valuable but more usable network.
