BTC's big milestone captured global headlines. So why were my friends more interested in Hawk Tuah coin?
Hawk Tuah meme star Haliey Welch broke through in a way BTC $100,000 did not. "Hawk Tuah" coin. Yep, in a very unscientific sample size of the seven friends who texted me — unsolicited — about crypto this week, six essentially asked: "What's the deal with Hawk Tuah coin?" .
Betting on memecoins is never a surefire investment strategy. But there were signs that Hawk Tuah was a worse investment than most. Its launch was marred by allegations of insider dumping and a pricey swap tax that failed to stop snipers from essentially manipulating its price. "It reinforces my previous belief that it's all nonsense," said one friend who bought bitcoin in 2020 but quickly sold. He acknowledged that bitcoin and Ethereum's ether may have "certain technological advances." And yet, "the fact that essentially anyone can create a new — potentially preferred — cryptocurrency at any point in time" boggled his mind.
Instead, they wondered if Hawk Tuah would face legal blowback. "I can't help but feel like Welch is gonna be unintentionally responsible for some butterfly effect that ruins people's lives," another friend mused.
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