News: Trump may declare Bitcoin as a strategic reserve asset, potentially boosting its price and adoption.
From Investing.com
July 18, 2024 1:07:15 pm:
Former US president and Republican candidate Donald Trump may announce Bitcoin as a strategic reserve asset at a Nashville crypto conference. Dennis Porter of Satoshi Action Fund revealed the news, calling it a game-changer for global economies.
Yves La Rose from ExSat praised the potential move, suggesting it could bolster economic resilience and validate Bitcoin’s digital gold narrative. Trump’s vocal support for Bitcoin hints at its geopolitical significance and value as a strategic asset.
Iva Wisher of Prom believes Trump’s pro-crypto stance is strategic and could attract new investors. Vivek Ramaswamy and Robert F. Kennedy Jr. propose backing the dollar with Bitcoin, while Senator Cynthia Lummis supports diversifying foreign currency holdings.
With the US holding a substantial amount of seized bitcoins, Trump’s support for Bitcoin as a reserve asset could have significant implications on its price and legitimacy. Experts predict increased adoption and competition among countries to acquire the digital asset.
Trump’s past criticism of cryptocurrencies has shifted, with recent statements signaling support and recognition of their importance. His attendance at a Bitcoin conference signifies a shift towards embracing crypto assets and solidifying the industry’s legitimacy on the campaign trail.
Read more at Investing.com: Trump potentially declaring Bitcoin a strategic reserve asset seen as a ‘watershed moment’ By Investing.com