Bitcoin has been making headlines recently, with the latest news coming from former US President Donald Trump. In a surprising turn of events, Trump has expressed his admiration for the achievements of the Bitcoin community, calling Bitcoin a “miracle of cooperation and human achievement.” He believes that if the US does not fully embrace cryptocurrency technology, countries like China will dominate the market.
Trump’s bullish stance on Bitcoin includes encouraging people to “HODL” their Bitcoin and never sell it. He envisions a future where crypto is mined and made in America, and he plans to appoint a Bitcoin and crypto presidential advisory council if he is elected. Additionally, he promises to create a strategic national Bitcoin stockpile and make the US the “crypto capital of the planet.”
One of the more controversial statements Trump made was his intention to fire SEC chair Gary Gensler on his first day in office. Trump believes that Gensler, who has been enforcing laws and regulations on crypto exchanges like Coinbase and Binance, is hindering the future of the industry. Despite these remarks, Trump reassured the public that Bitcoin is not a threat to the dollar’s status.
Following Trump’s comments, Bitcoin experienced some volatility in its price. Initially dropping from $68,400 to $66,635, Bitcoin quickly rebounded to $69,000. As of now, the price is hovering around $68,140, showing relatively flat movement for the week.
It will be interesting to see how Trump’s pro-crypto stance will impact the future of Bitcoin and the broader cryptocurrency market. With the potential for the US to become a leader in the industry, investors and enthusiasts alike are keeping a close eye on developments in this space. Whether Trump’s promises come to fruition remains to be seen, but one thing is for sure – the world of cryptocurrency is evolving rapidly, and it’s attracting attention from unexpected places.
