Trump says Bitcoin is going to the moon, will hold it as a strategic reserve asset
Trending Articles- Nearly $2 Billion Wiped Out in Crypto Liquidations Amid Brutal Sell-Off
- Gold Price Forecast: XAU/USD edges higher above $4,100 ahead of delayed US September NFP report
- Whale Dump Meets Quantum Panic: Bitcoin Slips to $86,000 and Blows $220 Million Longs
- Gold Price Forecast: XAU/USD rises to near $4,150 as Fed rate cut bets grow
- 2025 Black Friday is coming! Which stocks may see volatility?
- Fed Officials Speak Out in Force to Back Rate Cut! December Cut Now a Done Deal? Will the FOMC Meeting Be Delayed?
Former President Donald Trump expressed strong support for Bitcoin, stating that if reelected, he would incorporate Bitcoin as a strategic reserve asset for the United States.
During his keynote speech at the Bitcoin Conference in Nashville, Trump emphasized that the real threat to the US Dollar's dominance is not Bitcoin but rather policy decisions from Washington DC.
In a series of declarations, Trump also announced his intention to direct the Treasury Department to cease efforts in developing a central bank digital currency (CBDC).
He labeled Bitcoin as "not just a marvel of technology but a miracle of cooperation and human achievement," and promised to end what he calls the 'persecution' of the cryptocurrency sector under his potential future presidency.
Moreover, Trump declared he would dismiss the current Securities and Exchange Commission (SEC) Chairman, Gary Gensler, on his first day in office.
His comments suggest a complete reversal of the current administration's stance on cryptocurrency regulation and oversight.
Rounding out his pro-cryptocurrency stance, Trump predicted that Bitcoin's market capitalization could surpass that of gold and called for the United States to become the "crypto capital of the planet," signaling a significant shift in policy towards digital currencies if he were to win the presidential election.
At 17:06 EST (21:06 GMT), Bitcoin price was up about 1% on the day.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
