Trump Plans to Make US a Crypto Superpower, Which Could Drive Bitcoin to $800K Crypto Race Begins Around the World
Republican presidential candidate Donald Trump has announced his plans to promote cryptocurrency if elected for a second term. Trump aims to turn the United States into a “bitcoin superpower” and has promised to create a national bitcoin repository. He also plans to form a council that will determine cryptocurrency regulation policy.
Trump’s journey from cryptocurrency skeptic to cryptocurrency supporter reportedly began with his interest in NFTs featuring flattering images of himself. Analysts predict that Bitcoin could soar to $800,000 if Trump wins the presidency. Trump has also vowed to make the U.S. the “crypto capital of the world.”
Pay off the national debt
Satoshi Action Fund founder Dennis Porter said Bitcoin is the only option for the US to pay off its $34 trillion national debt. Who can say today for sure what this is: a solution to a global problem or a bait for… you know yourself. But the world is not limited to just the USA AND TRUMP.
Hong Kong Lawmaker Johnny Ng Proposes Using Bitcoin to Create Strategic Reserves region. Ng's proposal is aimed at positioning Hong Kong as a leader in the adoption of Bitcoin and Web3.
Former US President Trump recently gave a speech at the US Bitcoin Summit, sharing his views on Bitcoin. Bitcoin and Web3 have already gained the attention and development of countries around the world, and Hong Kong is also actively becoming a hub to promote technological… pic.twitter.com/e1UFCb6g1q
— Johnny Ng 吴杰庄 (@Johnny_nkc) July 28, 2024
He proposes to include bitcoin, often referred to as digital gold, in the reserves, subject to compliance. The move is part of a broader strategy to attract the most competitive talent, funds, exchanges and projects to Hong Kong.
America is embracing crypto. Asia is embracing. Europe is embracing (we wrote about MiCA here). Do you think the global race has already begun? Bitcoiners feel like the ultimate crypto cult. There is more pride in this group than other crypto/NFT conferences and cohorts, and that makes it feel stronger.Next to Bitcoin, Solana has been the most talked about, with very little talk about Ethereum.
Author's opinion: Trump, like his opponent, will chant that they are “buying.” And they are “buying” crypto now – 20% of the electorate is no joke.
Cryptocurrency is not all the same. There is an opinion that Bitcoin is an American product
But with Ethereum, everything is not so simple. According to the official version, its dad is Vitalik Buterin. It is difficult to argue with this. But the majority of investments in the development and creation of the crypto project were made by Chinese funds. And China is in BRICS, and literally the other day there was news that the guys there are not eating their bread in vain. They launched an analogue of SWIFT. Yes, it is not a currency, but transfers have started. And who knows what other battle of cryptocurrencies we will see.
P.S.: in essence, ether is a much improved alternative to bitcoin (speed and huge scope of application – scalability).
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