A reflective look at the "pro-crypto president"
The following articles discuss how Donald Trump appeared at the Bitcoin 2024 conference in Nashville and presented his new pro-crypto positions. Trump, who was previously critical of Bitcoin, has now promised to make the US the global center for cryptocurrencies. He emphasized that the US government would keep all of its Bitcoin holdings instead of selling them, which is about 212,847 Bitcoin worth around 14.4 billion US dollars, including the 94,636 Bitcoin seized from the Bitfinex hack in 2022.
In addition, Trump promised to fire the chairman of the SEC, Gary Gensler (although this is hardly legally possible), and to set up a crypto advisory commission. He also wants to pardon Ross Ulbricht, the founder of the Silk Road marketplace, which is causing further discussion and concern within the crypto community. These moves are intended to gain the support of crypto voters and establish the US as a leading force in the cryptocurrency space.
The FuW article (VERY worth reading in the original, so I won't summarize it: Donald Trump umgarnt Bitcoin-Community | Finanz und Wirtschaft (fuw.ch)) shows the contradictions of Trump's attitude. It is simply politics and manipulation for his own ends. Whether Trump has any idea of the subject matter at all is doubtful imo.
Happy investing
GG
The original sources are well worth reading:
Donald Trump umgarnt Bitcoin-Community | Finanz und Wirtschaft (fuw.ch)
Donald Trump's Bold Crypto Promise: What Happens to Seized Bitcoin Assets? - EconoTimes
Assets:
