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Donald Trump, elected because the forty seventh President of the USA on November 6, 2024, after defeating his rival Kamala Harris, made a notable assertion about Bitcoin (BTC) and cryptocurrencies, subjects he actively supported throughout his election marketing campaign. Throughout a go to to the New York Inventory Trade (NYSE), the place he rang the opening bell, Trump expressed his administration’s ambition to be a “pioneer within the cryptocurrency market.”
Donald Trump: “We’re Going to Do Nice Issues with Cryptocurrencies”
Throughout his look on the NYSE, President Trump was welcomed enthusiastically by merchants and traders. Chatting with CNBC’s veteran host Jim Cramer, Trump shared daring plans relating to cryptocurrencies. Responding to Cramer’s query concerning the BTC/USD strategic reserve, Trump acknowledged:
“We’re going to do nice issues with cryptocurrencies. As a result of we don’t need China or every other nation to dominate the cryptocurrency market. We wish to be a pioneer on this area.”
A Shift in Trump’s Stance on Cryptocurrencies
Trump’s help for the cryptocurrency business is just not completely new, although it marks a big shift from his earlier skepticism. Up to now, Trump argued that Bitcoin posed a risk to the US greenback’s dominance. Nonetheless, his perspective has developed through the years, making cryptocurrencies one of many central themes of his newest election marketing campaign.
In July 2024, Trump attended the Bitcoin Convention held in Nashville, the place he delivered a landmark speech. In the course of the occasion, he outlined his administration’s imaginative and prescient for cryptocurrencies, promising to:
Dismiss the SEC Chairman: Trump vowed to take away Gary Gensler, the previous Chairman of the US Securities and Trade Fee (SEC), identified for his stringent stance in opposition to cryptocurrencies.
Create a Strategic Bitcoin Reserve: He pledged to determine a nationwide Bitcoin reserve to strengthen the US place within the world crypto market.
Help Home Crypto Mining: Trump emphasised the significance of holding cryptocurrency mining operations inside the USA, declaring: “If cryptocurrencies are going to form the long run, I need them to be issued and produced within the USA.”
Present Market Overview
On the time of writing, the value of Bitcoin stands at $100,000, reflecting rising market optimism fueled by supportive insurance policies from the brand new US administration.
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