Trump unlikely to support Bitcoin reserve, prioritizes dollar as global currency, negative.

From Investing.com

December 3, 2024 02:08:43 AM:

Incoming President Trump is unlikely to support a Bitcoin reserve for the U.S., as he firmly believes in the dollar as the global reserve currency. Trump recently threatened BRICS nations with 100% tariffs if they pursue alternative currencies. Advocates see a Bitcoin reserve as a hedge against the dollar, but Trump prioritizes American strength.

While some advocate for a Bitcoin reserve to maintain U.S. financial leadership, Trump’s focus on the dollar’s dominance makes it unlikely he will support such a move. TD Cowen analysts believe Trump will not spend political capital on this issue, despite potential benefits for the U.S. in global finance. The debate may evolve over the next two years.

Read more at Investing.com: Bitcoin reserve unlikely under Trump due to dollar prioritization, TD Cowen says By Investing.com