As a seasoned crypto investor with a knack for spotting trends and a keen eye for political shifts, I can confidently say that Trump’s re-election has sent ripples of excitement through our community. The surge in Bitcoin following his victory is not just a fluke; it’s a testament to the potential impact his administration could have on the digital asset market.
The election of Donald Trump as the 47th U.S. President has rippled strongly across financial markets, notably in the cryptocurrency industry. Immediately after his election win, Bitcoin soared to a fresh record peak of $75,385, indicating a substantial revival for the digital currency market.
This increase occurs as part of a sequence of pledges that Donald Trump made during his bid for re-election, which focused on bolstering and nurturing the cryptocurrency sector.
Trump’s Vision For Crypto
As I step into my role once more within the White House for the 2025-2029 term, I have reaffirmed ten significant commitments regarding digital assets that will likely mold the digital landscape of our nation during this period.
Among Trump’s main commitments is his aim to establish the United States as a global leader in cryptocurrency, while simultaneously safeguarding the federal government’s existing and future Bitcoin holdings that originate from confiscated assets of financial offenders. In essence, he plans to maintain 100% control over all Bitcoins obtained this way.
At the 2024 Bitcoin Conference held in Nashville, Tennessee, Trump underscored the significance of holding onto Bitcoin rather than selling it, a sentiment echoing the core belief within the community that “don’t sell your Bitcoin” is crucial.
As a researcher, I’ve noted that President Trump’s anticipated actions have been making waves, particularly his intention to dismiss the Chair of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, on his inauguration day.
Gensler’s tenure at the SEC has been marked by many lawsuits against cryptocurrency companies, a move that some within the industry perceive as excessive. Although Trump doesn’t have the power to dismiss the current SEC chair, his plan to appoint a new leader suggests a preference for a regulatory climate more favorable towards cryptocurrencies.
The Republican also expressed strong skepticism about creating a central bank digital currency (CBDC) issued by the federal government, which he has vowed to block. He argues that it would create a dangerous situation in which money could suddenly disappear from people’s bank accounts.
End Hostilities Against Digital Assets
To amplify the crypto sector’s influence within government, Trump suggested establishing a “Presidential Advisory Council on Bitcoin and Cryptocurrencies.” He emphasized that the regulatory structure for digital assets would be shaped by individuals knowledgeable and sympathetic to the industry, instead of those perceived as adversarial.
Trump often advocates for the mining of all Bitcoin exclusively within the U.S. Following discussions with key figures in Bitcoin mining, he underscores his belief that America’s energy autonomy ought to encompass digital currency mining as well. He contends that current policies under Biden’s administration prioritize foreign interests over American ingenuity in the realm of cryptocurrency development.
In a more comprehensive financial perspective, Trump hints at implementing policies to decrease interest rates should he win the election. Generally, decreased rates tend to encourage both loans and investments, a trend that has historically been linked with higher prices for cryptocurrencies.
Under Bitcoin as the focal point of his economic strategy, the 47th president has pledged to employ the leading cryptocurrency to slash the nation’s accumulated debt by half, thereby substantially decreasing the rapidly expanding $35 trillion amount that increases weekly.
1) Trump plans to introduce a detailed policy for digital assets and stop any ongoing conflicts within the sector if he’s elected. Additionally, it’s predicted that he will reverse the conviction of Ross Ulbricht, who founded the Silk Road online marketplace, as President.
Currently, the top digital currency on the market is seeing a decrease from its recently established peak, with each coin being traded at approximately $74,416.
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2024-11-07 11:12