ChatGPT examines the impact on the price of Bitcoin if USA BTC makes a legal bid.

TL; DR

Acceptance of BTC as legal tender in the US would increase legitimacy and attract greater investment, potentially driving up its value. This move may cause market volatility due to speculative buying and unpredictable investor reactions.

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What if America accepts BTC?

The United States will soon have a new president, the election will be held in November this year. They go to the ballot boxes. He should do it Democratic candidate – Kamala Harris, Republican – Donald Trump, Independent – Robert Kennedy and others.

The fight promises to be very competitive, with the candidates focusing their campaigns on high-profile topics such as financial stability, immigration, abortion rights and more. Interestingly, Trump and Kennedy have touched the cryptocurrency industry.

Both feel like The preferred choice of pro-crypto voters, promising to make the sector flourish and evolve Certain Initiatives focused on Bitcoin. Soon after, Kennedy said he would sign an executive order. A For the president to appoint the government to the Start buying BTC. Trump, on the other hand he asserted. That he is will do Enforce the law He sees America taking over on all the BTC he currently owns or holds.

But what if they (or another potential prospect) do? Leaders US) decide to go further and make the main cryptocurrency a legal tender? Chatgpti such action a Huge Impact on the price of BTC, and in the following lines, we will prove why.

The AI-powered chatbot has figured that out. The legitimacy and recognition of leading digital assets will increase significantly If the US authorities make a valid form of payment.

Initiatives can attract significant investment. Both Retail and institutional investors, resulting in an influx of capital and an increase in the value of BTC. ChatGPT expects the action to translate to a More clear Regulatory status for the property.

Such breaking news triggers a wave of speculation and fear of missing out (FOMO) among investors, which drives the price higher.Chatbot added..

On the other hand, he warned of a possible news-on-the-news situation and enhanced volatility:

“While the long-term trend may be up, the immediate reaction can be very volatile. Traders and investors can react to the news quickly, which can cause significant price movements in both directions.

The US will not be the first

Those who have followed the big news around the crypto industry over the past few years should know that El Salvador is the first country to legalize BTC.. This It happened In September 2021 And It was one of the highlights of the bull run at that time.

The Central American country has shown many positive results. For example, the domestic tourism industry i saw More than 30% increase after receiving BTC. By 2021, around 1.2 people They visited. In 2022 and 2023, this number added About 2.5 million and 3.4 million, respectively.

The profile of people visiting El Salvador has also changed. Before the adoption of BTC, the main tourist flow was from the neighboring countries of Honduras, Guatemala and Nicaragua, but after that they became the majority of visitors. Americans.

Another reason Raising There may be levels of tourism in El Salvador to be Security improvements implemented by BTC-loving president, Naib Bookel. In the last few years, he has applied Stronger measures to combat gang violence and crime have resulted in a significant reduction in homicides and overall violence.

Central African Republic (CR) BTC is also legal tender. However, several factors have hindered so far motivation success. The country ranks among the poor. All over the worldLimited access to electricity, internet and mobile coverage: Weaknesses MacEffective implementation and use of digital currency is a challenge.