Summary
Donald Trump is forming the wealthiest administration in U.S. history, collectively worth over $330 billion.
Billionaires like Elon Musk ($300B), Linda McMahon, and Vivek Ramaswamy are key appointees, alongside ultra-wealthy Cabinet members.
Musk and Ramaswamy will lead a new Department of Government Efficiency, pushing for deep public spending cuts.
The administration’s combined wealth far surpasses that of Joe Biden’s Cabinet and rivals the GDP of some nations.
Critics argue this contrasts with Trump’s populist messaging, while Senate confirmations could spotlight wealth disparities.
Maybe when it hits a million or something in that range. I dunno, though, I’ve been hearing this kind of thing for 15 years or so. Not that it won’t happen, I guess, but it seems like they are waiting a very long time…
Can’t happen, actually. Most Bitcoin belongs to a small number of people and they can’t sell without collapsing their entire deal.
Yeah, hard to say. Crypto has gone into a rather weird direction since its inception. If it is going to be used as a way of conducting transactions for real, people would have to move stuff in and out of fiat very quickly, given it is being used as an asset class more so than currency.