I doubt he has been paid off. It's more likely he doesn't know any better. Everyone goes through a shitcoin phase, hopefully he learns like everyone else.
Assume the more likely scenario, he's in it for them profits. It's a small club and we aren't in it.
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which scenario is more likely?
1. the multibillionaire jumps through a bunch of hoops to receive a few extramillion in alt coins?
or
2. the 78 year old multi billionaire doesn't really understand how bitcoin works and is just doing what his cabinet suggests?