• Register

Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Trump is ready to make the United States a «bitcoin superpower»


November, 22 2024
watermark Economic news

Donald Trump has shown an active interest in cryptocurrency, linking it to the economic and political challenges facing the United States.


The accumulated public debt and the growing budget deficit are alarming indicators for the American economy. In parallel, there is a strengthening of the coalition of countries that seek to weaken the dominance of the dollar in the global financial system. The United States also has significant financial obligations to its allies, and hot spots around the world require constant attention and resources.


Trump sees cryptocurrency, in particular bitcoin, as an opportunity to solve these problems. He proposes to make the United States a «bitcoin superpower» and buy a significant amount of bitcoins to stabilize the dollar and reduce the national debt, using bitcoin as a reserve asset, like gold.


However, experts doubt the effectiveness of this approach. Buying such volumes of bitcoin can lead to a sharp increase in its value, creating a financial bubble. And the confiscation of bitcoins, proposed by Trump as a way to combat fraud, may, on the contrary, cause an outflow of capital from the United States.


Top Top