Behold Trump's new coin of the realm
By Froma Harrop / Creators.com
Right before his inauguration, Donald Trump issued a $TRUMP meme coin featuring a defiant him pumping his fist after an assassination attempt. Shortly after their release, the market capitalization for $TRUMP coins passed $5 billion.
Oracle of Omaha Warren Buffett once called bitcoin rat poison squared. Jamie Dimon, chief at JPMorgan Chase, noted that its got no intrinsic value, adding, I remember when Beanie Babies were selling for $2,000 a pop.
Beanie Babies. Back in the 1990s, crowds pushed their way into toy stores to get in on Beanie Babies. TV hucksters would claim that a $1,500 investment in a Beanie Baby today could be worth $75,000 in 10 years.
What were Beanie Babies? They were cute animal dolls, basically pieces of fabric stuffed with plastic pellets. Most anyone with a sewing machine could make a Beanie Baby replicant. To protect against copies, creator Ty Warner had heart-shaped Ty tags attached to each. (Though tags were counterfeited as well.)
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