Former U.S. budget director David Stockman escalated his criticism of Bitcoin in a recent X post, describing the flagship cryptocurrency as a “rug pull” after its decline from $125,000 to the $60,000s in the last five months. The nearly 50% correction, argues President Reagan’s former advisor, exposes what should be seen as a fundamental contradiction between the “store of value” narrative of Bitcoin and its actual price behavior during risk-off phases.
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