As a seasoned crypto investor with a decade of experience navigating the volatile and unpredictable world of digital currencies, I have learned to approach every new development with a dose of skepticism and an open mind. The recent optimistic buzz surrounding Donald Trump’s pro-crypto stance has certainly piqued my interest, but as Ki Young Ju rightly points out, we should not jump to conclusions too hastily.
I remember the days when gold was the global standard, and its price would surge whenever there was a perceived threat to the US dollar. Bitcoin is now filling that role, serving as a hedge against inflation and economic crises. However, I agree with Young Ju that the US government is unlikely to adopt BTC as a strategic reserve asset unless they perceive a real danger to their global economic dominance – which currently seems remote given the strong capital inflows into the US dollar.
Trump’s boasts about the US economic power gap ahead of his inauguration in January suggest that he may prioritize US dollar dominance over pro-Bitcoin policies. This could mean that his promises to the crypto community were merely political strategies to secure votes, a tactic as old as politics itself. As an investor, I have learned to expect such twists and turns, but I must admit, it would be quite a twist if Trump’s pro-crypto stance turned out to be just another campaign promise!
On a lighter note, I can’t help but think of the irony: a man who once called Bitcoin a “scam” could end up being the one to legitimize it on a global scale. If that happens, I might just have to send him a thank-you note – in Bitcoin, of course!
After the U.S. elections in November, the crypto community has been enthusiastic since pro-Bitcoin (BTC) and pro-cryptocurrency candidate Donald Trump was chosen as the President-elect. Throughout his campaign, Trump openly expressed support for the cryptocurrency sector, hinting at potential beneficial policies such as establishing a national bitcoin reserve if he were to win the election.
As the inauguration of the Republicans draws near, renowned cryptocurrency figure and CEO of CryptoQuant, Ki Young Ju, shares his insights regarding the likelihood of Donald Trump fulfilling his pledges in the crypto sector.
Trump May Reverse Pro-Bitcoin Stance For Dollar Supremacy: Young Ju
On December 28th, Ki Young Ju expressed his thoughts in a post about whether it’s realistic for Donald Trump to advocate for Bitcoin through his manifesto, specifically focusing on the possibility of Bitcoin being used as a strategic reserve asset.
The CEO of CryptoQuant points out that historically, the price of gold would rise when the U.S. perceived a potential threat to its economic position. Over the last half century, however, the U.S. dollar has taken over as the global standard, with the U.S. consistently avoiding a return to the gold standard by utilizing various strategies aimed at fostering economic expansion.
As an analyst, I’m sharing insights from Ki Young Ju, who posits that Bitcoin is evolving into the ideological realm once occupied by gold. Essentially, he suggests that just like gold, Bitcoin is increasingly being viewed as a safeguard against inflationary pressures and economic crises that traditional fiat currencies, such as the US dollar, might experience.
In contrast to this view, the CEO of CryptoQuant thinks the U.S. government would consider Bitcoin as a strategic reserve asset only if they see a potential danger to their global economic supremacy. Nevertheless, Young Ju points out that at present, there seems to be no such threat in sight, given the ongoing capital inflows into the U.S. dollar.
Instead, it appears that the U.S. may opt for purchasing Bitcoin more for strategic risk management or financial advantage rather than as a traditional reserve asset, contrary to the beliefs of some Bitcoin proponents who view it in that light.
In simpler terms, Ju proposes that since Trump values the strength of the U.S. dollar for maintaining economic power, he might not focus much on Bitcoin-friendly policies within his administration. This could potentially have minimal effect on his strong supporter base who are Republicans.
It’s quite plausible that this situation unfolds given Donald Trump’s recent bold claims about the US’s economic superiority before his inauguration in January. As a result, despite his declarations at the National Bitcoin Conference, Young Ju finds it challenging to determine Trump’s genuine intent to enact his pro-Bitcoin agenda. If he fails to do so, it might suggest that these promises were simply political tactics aimed at winning votes.
BTC Price Overview
Currently, one Bitcoin is being traded for approximately $95,259, representing a 0.76% increase over the past 24 hours. Yet, the daily trading volume has decreased by 53.80%, currently standing at around $24.12 billion.
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2024-12-29 17:11