American Bitcoin plunged 50% during a crypto rally, exposing a fatal flaw in the “Trump proxy” trade
Bitcoin (BTC) clawed back from $86,286 on Dec. 2 to $93,324 as of press time, up by 8%, while the Trump family’s American Bitcoin (ABTC) shares tumbled. The BTC price increase can be attributed to improved macro conditions and Vanguard’s opening of crypto ETF access to tens of millions of clients. At the same time, …
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