Bloomberg: Trump considers creating the first ever White House Crypto role

ranochigo

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Quote from: legendbtc on Today at 08:02:31 AM

But I think the bigger news contributing to today's bitcoin rally is that Chinese court has ruled that owning bitcoin and cryptocurrencies is legal. This would open up the possibility that China will lift its cryptocurrency ban in the future, possibly even as early as this year.
Bitcoin crossed the $98k after the news was released.

It isn't a ruling and the court merely clarified that it is classified as a personal commodity and businesses are still not allowed to transact or use it as an investment vehicle. I don't believe China would lift the ban anytime soon, the problem with capital control persists.

I do hope that Trump does follow through with his campaign but assigning someone on his/her merits. We do need someone who can actively push Bitcoin in the society rather than just another guy to line his pockets up.

Odusko

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Quote from: Davidvictorson on Today at 07:42:22 AM

One of the days if nobody beats me to it, I am going to create a thread here highlighting all the campaigns promises of president elect Trump relating to Bitcoin and Cryptocurrency. When he finally gets sworn in and if he eventually starts fulfilling them, then I'll return to the thread to tick them off. As a non American, I understand the effect of implementation and non-implementation of his promises on a global scale. All we can do right now is hope that he keeps to his word. We'd send him a person thank you note if he does.

I will be one of those who will be looking out to seeing that thread and I no in no distance time we are going to be seeing a lot of activities coming from the White House because the president elect have made so much promises during his campaign and for that alot of things will be expected to start unfolding the moment he hit the ground running with his administration, so for that If Bitcoin could make it to $100,000 price prior to the swearing in date, that means when if the campaign promises turns out to become a policy and in favor of the crypto ecosystem that means the price of Bitcoin could be triggered to above $150k which is somewhat a Base line to be expected.

So mate I will be waiting to see your thread highlighting all the campaign promises and it potential actualization when the Trump administration comes inboard in the coming days week's, but not too long from now, I believe the crypto market is going to remain in this positive mood until that very time and alot should be expected and not limiting us to a benchmark of $100k, we can go abive that price.

avikz

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I think it is a much needed move. The crypto related businesses need clarity. Currently the SEC is dealing with all crypto related matters and messing it up completely. So if Trump creates a roll to look after crypto related matters in US, I believe that will become a blessing for the cryptocurrency related businesses in the US.

SEC has proven itself an enemy to the crypto businesses. That needs to change for sure!

Lucius

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Quote from: legendbtc on Today at 08:02:31 AM

~snip~
But I think the bigger news contributing to today's bitcoin rally is that Chinese court has ruled that owning bitcoin and cryptocurrencies is legal. This would open up the possibility that China will lift its cryptocurrency ban in the future, possibly even as early as this year.
Bitcoin crossed the $98k after the news was released.

Chinese courts made such decisions a long time ago - and I really don't know why people are so fascinated by China in the context of BTC? Bitcoin as something decentralized has no place in a society ruled by communism - in other words, I don't see how China would allow trading with BTC again unless the policy changes completely.

Quote from: https://www.thestreet.com/crypto/news/chinese-court-declares-bitcoin-is-virtual-property

Chinese Court Declares Bitcoin Is "Virtual Property"
May 13, 2022 5:07 PM EDT

This week, Shanghai High People’s Court said that Bitcoin, the world's largest cryptocurrency by market capitalization, is a "virtual property" entitled to legal protections under Chinese law. This declaration stunned outsiders, given the country's decision to ban cryptocurrency last year.

Iranus

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Quote from: Ziskinberg on Today at 08:28:12 AM

Recently, they announced plans to accumulate 1 million Bitcoin for their strategic reserve. That alone speaks volumes, they’ll need crypto experts to manage this, ensuring they maximize profits while minimizing risks.

This is just Senator Lummis' idea, not a plan or proposal that has been presented to the president for consideration or Congress for approval, so it's too early to say whether this will ever become a reality. Politicians can say whatever they think, we shouldn't take it too seriously. It only becomes noteworthy and worthy of our attention when they turn the idea into a real proposal and present it to parliament.

I think we shouldn't make too many predictions and put too much hope just because of random words from politicians. We need to wait until Trump officially becomes president and takes power, then what happens next. Because if he doesn't keep his promise and doesn't act bitcoin friendly then no one will dare to think about this idea anymore.

Ziskinberg

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Even without the news, Bitcoin was already on track to hit $100k. Right now, the hype seems closely tied to Trump, and most of what we’re reading is positive. But things will definitely shift once he’s in office and the real work begins. For now, no complaints, let’s keep this kind of news coming since it only fuels the bullish momentum.

Recently, they announced plans to accumulate 1 million Bitcoin for their strategic reserve. That alone speaks volumes, they’ll need crypto experts to manage this, ensuring they maximize profits while minimizing risks.

legendbtc

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There has been a lot of positive news for the cryptocurrency industry coming from the Trump administration recently, although none of it has been officially confirmed or announced. Alongside the news that several senators have proposed making bitcoin a strategic reserve, there are also reports that Trump is planning to meet with the CEO of Coinbase to fill a new position in his administration. Does this have anything to do with your news? Or the news that he is also considering Teresa Goody Guillén to replace Gary as SEC chair...Overall, there are a lot of positives about the Trump 2.0 administration for crypto and that could be why bitcoin keeps hitting all-time highs every day.

https://x.com/RadarHits/status/1859003622144831742

But I think the bigger news contributing to today's bitcoin rally is that Chinese court has ruled that owning bitcoin and cryptocurrencies is legal. This would open up the possibility that China will lift its cryptocurrency ban in the future, possibly even as early as this year.
Bitcoin crossed the $98k after the news was released.

https://x.com/BTC_Archive/status/1859548499706073230

Davidvictorson

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One of the days if nobody beats me to it, I am going to create a thread here highlighting all the campaigns promises of president elect Trump relating to Bitcoin and Cryptocurrency. When he finally gets sworn in and if he eventually starts fulfilling them, then I'll return to the thread to tick them off. As a non American, I understand the effect of implementation and non-implementation of his promises on a global scale. All we can do right now is hope that he keeps to his word. We'd send him a person thank you note if he does.

Baofeng

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https://x.com/BTC_Archive/status/1859306106436321645

So probably this is also one news that really put the price to nearly $100k in the last 24 hours. And as we all know, Trump's political agenda and I will say that it's a big factor for him winning is because of his commitment to Bitcoin and crypto in general.

And after winning the election, he had started to make news about how he will make crypto great in America and probably this is a very welcoming news for us specially once he officially sworn as the next President next year and creating this pro-crypto role.

Topic: Bloomberg: Trump considers creating the first ever White House Crypto role (Read 51 times)