I have a friend claiming bitcoin is a "store of value, tool for the de-banked (politically right), hedge against the rapidly inflating dollar, more valuable than gold" (paraphrasing). He further claims that "bitcoin can't be faked like 'uninspected' gold reserves" that are supposedly just "painted iron ingots".

I want to scream. This is a speculative investment with more bad actors involved than the SEC has investigated throughout its entire history.

I hate these bitcoin boom cycles. It's like all the lessons learned immediately get forgotten.

Him: "But this time is different. Last time the Democrats were holding it back. Trump is going to make a strategic crypto reserve. Trump and his allies are all pro-crypto. The Democratic party was trying to regulate it away."

I guess this will be the next lesson.