Here is a marketing fact for you:
There is a reason Nancy Reagan’s anti-drug “Just Say No” advertisement Campaign failed. (Not only did it fail, but it actually encouraged kids to try drugs, having the opposite effect).
The ad failed because of this idea called “observability.” What’s observability mean? The more you talk about something, the more popular it becomes. It doesn’t matter if the content of the message intends to make something unpopular. If people can actually see the popularity of something, even if it’s condemned, it drives people to that thing.
In other words, Nancy inadvertently got plenty of kids on drugs because she created social proof that these kid’s friends were users.
What a beautiful story! But how does that relate to Trump talking about bitcoin?
Same principle. When trump goes public chastising bitcoin, it actually raises the observability of the digital currency, inspiring MORE people to use it, trade it, and think about it. Unwittingly or not, Trump just provided more social proof and observability to bitcoin and cryptocurrency.
From a marketing standpoint, the article is correct. He just stoked the flames of bullishness for bitcoin and crypto. But not only monetary bullishness, but also bullishness for its use cases and practical application.
Things are going to get interesting.