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Topic: Bloomberg: Trump considers creating the first ever White House Crypto role (Read 328 times)

legendary
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Once this role get's formalised, we will see a Bitcoin pump like we have never seen before. Every nation on planet earth will follow Trump and the United States government so they are not left behind.

Every nation? Does that include all those who will lose a lot of money due to the restart of the trade wars? Not everyone is thrilled with the new policy that will be implemented from the US - and even fewer are thrilled with the idea of ​​including something volatile like BTC in their strategic reserves.

In addition, if all those countries you are talking about will collect millions of BTC, what will be left for ordinary people who will want to buy BTC in the future?
legendary
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He already made DOGE, and put Elon in charge, so I think that could be considered crypto enough, with the money saved from there, who can say that it won't go directly towards bitcoin national reserve, it could very well be used for that reason alone. This is not an easy task of course, and could be very difficult to convince all the politicians to greenlight this, but whatever they need to do, they can do it.

He is doing hardcore stuff, stuff that makes him a dictator without a doubt, things that makes him hated for, but he does it for the good of his people in his mind, if it works well for the nation then he did something good even though people hated him for it, but if it fails, then he becomes a bad dictator that did something terrible while people argued against it. He is taking more risk than any other president I know, he will either be remembered as the person who screwed the whole nation for four years, or he will be the one to save it, lets see if his ideas will work or not. For sake of Americans, I hope he succeeds, otherwise things won't be good at all.
hero member
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Once this role get's formalised, we will see a Bitcoin pump like we have never seen before. Every nation on planet earth will follow Trump and the United States government so they are not left behind.
The sector is still waiting for the creation of this crypto agency, for now, nothing has been heard about it.  Brian Armstrong and Brian Brooks have met with the President-elect to discuss the industry. Another news that we are waiting for is the appointment of a candidate that will replace Gary Gensler. The US is a global pacesetter, other countries will always copy its policies. So, it is possible that other countries will follow its positive stance on Bitcoin.       
member
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Once this role get's formalised, we will see a Bitcoin pump like we have never seen before. Every nation on planet earth will follow Trump and the United States government so they are not left behind.
legendary
Activity: 2002
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Free Free Palestine
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 look forward to a thread like that where we can detail all Trump's campaign promises regarding Bitcoin and cryptocurrency because talk is cheap, actions speaks louder. I'm also a none American and I come from a place where campaign promises are mere words of enticement, they mean nothing to politicians. So I'm looking forward to Trump's second term and see the priority he'll give to Bitcoin, and matching his words with action. Whether Trump's administration will be crypto friendly or not, the fact that he acknowledged Bitcoin during his campaigns will show the strong reputation that Bitcoin has gained.


Even ourselves, sometimes we make promises to our family or children but break them many times and we always have reasons to justify. Or even we ourselves cannot carry out all the plans we have made and cause everything to stagnate. So forcing politicians to fulfill every promise they make is like making things difficult for them, and we're being a bit selfish.

We just need him to have an open policy towards crypto, not be too hostile towards crypto like Biden or SEC has been in the past. This is a success and it is seen as Trump keeping his promise to us.

Don't ask too much from a president because the term is only 4 years and as president he will have to deal with thousands of jobs and problems of the world, not just crypto. Not to mention, they are also human, they need time for family, rest...
sr. member
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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.
I look forward to a thread like that where we can detail all Trump's campaign promises regarding Bitcoin and cryptocurrency because talk is cheap, actions speaks louder. I'm also a none American and I come from a place where campaign promises are mere words of enticement, they mean nothing to politicians. So I'm looking forward to Trump's second term and see the priority he'll give to Bitcoin, and matching his words with action. Whether Trump's administration will be crypto friendly or not, the fact that he acknowledged Bitcoin during his campaigns will show the strong reputation that Bitcoin has gained.
hero member
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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.

Lots of promises are being made whenever a candidate goes to the people during elections campaign. We have to admit that majority of those promises were not fulfilled after the elections, at least in my country. President (Elect) Donald Trump has taken some tough decisions in his previous tenure like ending Afghan war, so we can expect from him that he can take some new decisions on crypto. But we have to wait till the time he goes to the president office and do something practically.   
legendary
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Bitcoin transactions are private. It isn't because amounts and senders and receivers are not known. It's because nobody can crack the code.

Privacy 'trumps' anything Trump can do. Privacy's listed in 70+ supreme Court cases going back almost to the creation of the country. The thing that Trump might do is mess with companies like Coinbase, who have sold themselves to government authorization.

Let's make a PMA (Private Membership Association) that only trades with members. And anybody can become a member. As it is, Bitcoin is almost there already, in its nature. Written up properly, government has no authority over a PMA.

Cool
hero member
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I really don't know why people are so fascinated by China in the context of BTC?
It is probably because it is among the top three countries with the highest crypto adoption rates. In 2023, India was on top, followed by China, the second country with the highest adoption rate with 35M crypto users. Despite this, I agree with you that there has been such news in the past as well, but country's stance about Bitcoin and cryptocurrencies never changed, at least not so far.
~snip~


Do you think there's any truth to that? China banned cryptocurrency trading a few years ago, while on the other hand, India is not very friendly when it comes to cryptocurrencies - so where does this data on adaptation come from? Those who were around when BTC was still "legal" in China know that everything that happened there was always in some way a threat to BTC - and in fact the best thing that happened was that they banned it.

If BTC were legal in China and the same country still held a monopoly on mining, does anyone think that spot ETFs would be approved in the US and that Mr. Donald would have the attitude he has today?

China doesn't trust anything that doesn't come from them unless someone can prove to Xi JinPing that Satoshi has disappeared and gone forever and nobody got his huge stash of BTC, which Xi would rather tell his people to avoid. But they did allow their people to use and trade crypto.

While Trump wants to make the US the center for crypto, it may be harder to do crypto business in the US, as the US will require more than just registration and license to operate.  Its good to make the news spread though because BTC price keeps going up.

hero member
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We all can argue about that, but one thing is for sure, if he didn't win the election, then Bitcoin might not have reach $100k this soon. So I will say that him becoming the next US President is the catalyst for Bitcoin, and his pro-Bitcoin stance might really help him with this election.
It is all our assumptions, that can be true or untrue. In this market cycle, Bitcoin already made one surprise and a first ever in its history. Making a new ATH before a Bitcoin halving, and now it won't be surprise if it hits or breaks $100,000. It can be because of Trump or can not, but I see this cycle moves faster than previous ones.

I think of other reasons for it, like Bitcoin adoption is better, money flow in this market increases super quickly, and all these contributors are very helpful for Bitcoin to speed up its bull run more fastly.

Quote
Just imagine if the winner who's political party is to prosecute Bitcoin and crypto, then we might see the price of Bitcoin going noise dive if Kamala by chance won and Gary Gensler enjoying another tenure as SEC chair.
What will Gary Gensler do if he stays as a SEC chairman for another tenure?

Revoke Bitcoin Spot ETF approvals in the USA? It won't happen, it's impossible, and Bitcoin will continue its bull run and cycle.
legendary
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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?
China is a large potential market. How much bitcoin it already has it's probably hard to guess.
~snip~


I would not be surprised if CP secretly buys BTC and mines it in a controlled environment as well - the fact that they have banned cryptocurrencies does not mean that they at the top do not make a profit from them.



~snip~
A crypto person at the White House would be a big deal, although I'm not sure it would be good for Bitcoin and its users per se.


It may be good for "business", but here we are primarily talking about various projects that have no direct connection to BTC - and given all the news circulating these days, the new president is meeting with various people from the world of cryptocurrency. He is a businessman, then a politician, so he will try to profit as much as possible.
legendary
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I don't think Trump won because of being so pro-crypto. It got his some votes and some support, but I think he won mainly because of two interrelated things: the US got tired of how Democrats are running things, especially regarding handling major war escalations (Russia-Ukraine, Israel-Palestine); things are not that bad in the US, so people are feeling like they can gamble and see what they get with a very high-risk and volatile president.
A crypto person at the White House would be a big deal, although I'm not sure it would be good for Bitcoin and its users per se.

We all can argue about that, but one thing is for sure, if he didn't win the election, then Bitcoin might not have reach $100k this soon. So I will say that him becoming the next US President is the catalyst for Bitcoin, and his pro-Bitcoin stance might really help him with this election.

Just imagine if the winner who's political party is to prosecute Bitcoin and crypto, then we might see the price of Bitcoin going noise dive if Kamala by chance won and Gary Gensler enjoying another tenure as SEC chair.
legendary
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I don't think Trump won because of being so pro-crypto. It got his some votes and some support, but I think he won mainly because of two interrelated things: the US got tired of how Democrats are running things, especially regarding handling major war escalations (Russia-Ukraine, Israel-Palestine); things are not that bad in the US, so people are feeling like they can gamble and see what they get with a very high-risk and volatile president.
A crypto person at the White House would be a big deal, although I'm not sure it would be good for Bitcoin and its users per se.
hero member
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The focal point is when we begin to see the American government officially using Bitcoin for payments and receipt not only for people in US both for the migrants that intend to enter US for different reasons like education, tourism vocation etc. For example, if they start receiving btc for tuition fees, flight tickets, payments into government banks etc.
legendary
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He is driving nocoiner demo*rats crazy and most of them said he wasn't serious about cryptoo, he used crypto to win the electioon... Guess what? They were wrong before the election and they are still wrong. And I just read these turds gonna let Kabala run for prez in 2028 one more time. They are doubling, tripling, no- quadrupling down on their stupidity. I guess they are addicted to losing. At this point Reps will have 4 more years after Trump which is very good news.

Trump is the real deal folks. Welcome to the era of crypto.


Buckle up.
legendary
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here is the issue though.. just like the bitlicence(they tried to make NY the center of crypto by requiring businesses to get a licence to operate in NY)

so imagine trump implementing taxes(tariffs) for all international services transferring btc to american services, also setting barriers of entry for crypto services where american businesses get licenced to be tariff free(after meeting requirements) but then is hostile to non-american businesses
legendary
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If Trump's administration creates this position, then i consider it a big advantage to the network and it may welcome favorable policies for the network in some aspects. Trump has raised optimism amongst a lot of bitcoiners and crypto people and i can sense a lot of expectation and excitement too, right now i am keeping my fingers crossed to see how things develop, especially after he is sworn in, i still have the belief that there is little a centralized government can do to support a decentralized network like BTC that they cannot control.
legendary
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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.
News from China is repeatedly used many times and this one again proves this style of new abuse orginated from China.

China's Xi Embraces Blockchain in 2019 after "China's ban on cryptocurrency exchanges in 2017" and then in 2021 they have other bans.

https://www.reuters.com/world/china/china-central-bank-vows-crackdown-cryptocurrency-trading-2021-09-24/

A more detailed report on chronological changes in China.
China and cryptocurrency.
Quote
(1) Bitcoin is not legal tender. Both the “Notice” and the “Announcement” point out that Bitcoin is not currency, it is not issued by the monetary authority, has no monetary properties such as legal compensation and compulsion, does not have the same legal status as currency, and cannot and should not be used as currency in the market. Circulation use. Therefore, the fields that it is engaged in as legal tender are not allowed by the government.

(2) Bitcoin is a virtual commodity. “Notice” pointed out that Bitcoin is a virtual commodity. The country does not recognize the identity of Bitcoin virtual currency, but recognizes it as a virtual commodity. Because the concept of virtual goods is larger than virtual currency, currency is a special kind of commodity. Bitcoin is not recognized as currency, but it is considered a commodity.

(3) Bitcoin-related activities prohibited by the state are: token financing trading platforms must not engage in the exchange business between legal currency and tokens, or “virtual currencies”, and cannot buy or sell tokens or as a central counterparty. “Virtual currency” shall not provide services such as pricing and information intermediary for tokens or “virtual currency”. Financial institutions and non-bank payment institutions shall not directly or indirectly provide products or services such as account opening, registration, trading, clearing, and settlement for token issuance financing and “virtual currency”, and shall not underwrite related tokens and “virtual currency” The insurance business may include tokens and “virtual currency” into the scope of insurance liability.
legendary
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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?

China is a large potential market. How much bitcoin it already has it's probably hard to guess.

The US news that are coming now are not that big anymore. Trump has won and some of these changes were somewhat to be expected (and whether they'll have good results or not we'll see, I'm still somewhat skeptical, but I'd love to be proven wrong). And, while we are in the right time for pumping the price, the big players are probably still on "buy the rumor, sell the news", hence there can be that it's not the US news that get the price up now.

Of course, this is just speculation with high chance to be incorrect. And, after all, we care about what happens on long term (although nowadays' price does look really good, I can't deny it).
legendary
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I really don't know why people are so fascinated by China in the context of BTC?
It is probably because it is among the top three countries with the highest crypto adoption rates. In 2023, India was on top, followed by China, the second country with the highest adoption rate with 35M crypto users. Despite this, I agree with you that there has been such news in the past as well, but country's stance about Bitcoin and cryptocurrencies never changed, at least not so far.
~snip~


Do you think there's any truth to that? China banned cryptocurrency trading a few years ago, while on the other hand, India is not very friendly when it comes to cryptocurrencies - so where does this data on adaptation come from? Those who were around when BTC was still "legal" in China know that everything that happened there was always in some way a threat to BTC - and in fact the best thing that happened was that they banned it.

If BTC were legal in China and the same country still held a monopoly on mining, does anyone think that spot ETFs would be approved in the US and that Mr. Donald would have the attitude he has today?
legendary
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I really don't know why people are so fascinated by China in the context of BTC?

It is probably because it is among the top three countries with the highest crypto adoption rates. In 2023, India was on top, followed by China, the second country with the highest adoption rate with 35M crypto users. Despite this, I agree with you that there has been such news in the past as well, but country's stance about Bitcoin and cryptocurrencies never changed, at least not so far.


China and the United States are the two largest economies in the world, their economic decisions and policies will also have a direct impact and influence on the whole world and bitcoin is a part of world. Or it can be said that the world economy is in the hands of these two countries so it is not surprising that everyone is interested in anything related to them.

China is a formidable rival of the United States and as far as I know, they have never given up on their goal of taking the world number 1 position from the United States. So they will try not to fall behind the United States in any field. They may not like bitcoin but if Trump creates a race for bitcoin demand and the whole world has to follow, China cannot stay out of it.
hero member
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I really don't know why people are so fascinated by China in the context of BTC?

It is probably because it is among the top three countries with the highest crypto adoption rates. In 2023, India was on top, followed by China, the second country with the highest adoption rate with 35M crypto users. Despite this, I agree with you that there has been such news in the past as well, but country's stance about Bitcoin and cryptocurrencies never changed, at least not so far.

He has no choice, and he knows that all eyes is on him specially with all of his promises with regards to crypto. And it looks like he will have to fulfill it when he officially becomes the next president next year.

I don't think we can say that he has no choice because no one can do anything if he doesn't do everything he says. He will still be the president until the next elections, but since this will give him a bad reputation, he will surely consider doing everything he can only to save his reputation even if he doesn't like Bitcoin and cryptocurrencies personally from the inside.

We can hope that he does fulfill his promises, it will be a positive development for cryptocurrencies.
legendary
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~snip~
SEC has proven itself an enemy to the crypto businesses. That needs to change for sure!


Maybe SEC has proven to be an enemy of the scam crypto industry, but he certainly hasn't proven to be an enemy of BTC - because what is happening now is largely the result of positive decisions by that same SEC. Some will say that the lawsuits forced them to do it, but if we are honest, I think that they waited for a reason until the futures&spot BTC ETFs were approved - because everything bad that could happen with it is somehow their responsibility.

I think people are their own worst enemies in the world of cryptocurrency - and if they want the Wild West, it looks like they'll get it.
hero member
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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.

Yes, I do not think that this news really contributed to the price going into another all time high. I mean we have seen what Chinese did since 2018 and I doubt that they will make a U-turn just because Trump win the election.

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.

He has no choice, and he knows that all eyes is on him specially with all of his promises with regards to crypto. And it looks like he will have to fulfill it when he officially becomes the next president next year.
legendary
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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.
hero member
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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.
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.
legendary
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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!
legendary
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~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.

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.
hero member
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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.
hero member
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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.
hero member
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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
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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.
legendary
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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.
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