10
Uncle SamComes Calling
On November 9, 2016, Washington, DC, woke to gloomy rain and the news that a political outsider, Donald J. Trump, would be the next president of the United States. Financial markets shuddered; futures contracts for major stock indexes traded 5 percent lower, and the price of oil fell. Gold, traditionally a haven in times of turbulence, ticked up. So did bitcoin, which rose 3 percent on news of Trump’s election. For bitcoin boosters, that small price jump would be the only good news about cryptocurrency to come out of Washington for the next three years.
On the other side of the country, David Utzke, a decorated special forces veteran based in California, was creating trouble for bitcoin. After serving overseas with the ...
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