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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.

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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.