The FBI recently reported that losses from cryptocurrency scams were up 45% from last year, over $5.6 billion dollars. It's become so widespread that the FBI actually created their own cryptocurrency to ensnare the fraudsters. You might be thinking what's that got to do with me? I don't plan on buying any bitcoin. Unfortunately you don't have a choice.
People that have gotten wealthy in this largely unregulated, fraud-plagued market are increasingly influential in our political system.

Three super PACs that boast backing from crypto titans Coinbase, Ripple Labs, and Cameron and Tyler Winklevoss, who founded the cryptocurrency exchange Gemini, have spent more than $80.5 million on the general election, according to the Federal Election Commission...
One race in particular has been the focus of the crypto-infused spending. The Senate race in Ohio between three-term Democratic incumbent Sen. Sherrod Brown and Republican Bernie Moreno is the most expensive contest this cycle. Defend American Jobs has spent more than $40 million supporting Mr. Moreno.
Mr. Brown, who chairs the Senate Banking, Housing and Urban Affairs Committee, is a cryptocurrency skeptic and voted against legislation earlier this year that would have softened crypto banking regulations.

Cryptobros are becoming one of the largest campaign contributors, but you wouldn't know that from watching the ads.
Even back in 2020 78% of bitcoin was not liquid, and its only gotten worse since. With very little bitcoin being bought and sold, those that are holding bitcoins can't sell and monetize their winnings without crashing the market. They need a bigger sucker.
That sucker is the taxpayer.

Trump has not said if the government would add to that stockpile by buying more bitcoin in the open market. To do that, the government may have to issue debt, although some proponents of a bitcoin reserve say the United States could sell some of its gold reserves and use the proceeds to buy bitcoin.

Currently, the most concrete bitcoin reserve proposal circulating in Washington comes from pro-crypto Republican Senator Cynthia Lummis, who personally holds five bitcoins, she told CNBC last month. In July, she introduced a bill, yet to gain traction, that would create a reserve operated by the Treasury.

The idea behind the bitcoin reserve is to swap out an asset that has actual value with bitcoins. Or to put it another way, use the nation's gold to buy crypto.

One idea is to loot the Exchange Stabilization Fund, which is largely under the president’s control, and has about $41 billion in net value. A much larger plan has been formally introduced by crypto shill Sen. Cynthia Lummis (R-WY). It’s called the (sigh) Boosting Innovation, Technology, and Competitiveness Through Optimized Investment Nationwide (BITCOIN) Act, and it identifies several public assets that might be drained. One idea is to reduce the capital reserve requirements at the Federal Reserve from $6.8 billion to $2.4 billion; another is to skim off the Fed’s $6 billion in annual money-printing profits.
But the biggest part of the program is to revalue America’s gold reserves. The U.S. government maintains a stockpile of about 261 million troy ounces of gold—or about 8,133 metric tons—in Fort Knox and other facilities. This is valued by statute at $42.22 per ounce, or $11 billion in total. But the market price of gold at time of writing is $2,631 per ounce. That’s more than 55 times as much, or a total of $688 billion.

Lummis proposes the Treasury issue new gold certificates based on the market price, and use the resulting cash—$677 billion at current prices—to buy up Bitcoins. In total, her bill would require the government to buy up 200,000 Bitcoins a year for five years, until a “strategic reserve” of a million would be accumulated.
So why on earth would buccaneering crypto people want the government scooping up a million Bitcoins—or about 5 percent of all that exist? The reason is obvious: so paper Bitcoin billionaires can cash out their holdings into real money without tanking the market.

Bitcoin “wealth” is much more concentrated than dollar wealth. While the top one-hundredth of households own about 30 percent of U.S. dollar wealth, the top ten-thousandth of Bitcoin wallet addresses hold about 27 percent of the coin.

I don't need to tell you what a disaster this will be.