What new laws can Donald Trump introduce to boost the growth of Bitcoin?
The world is talking about the impact of Donald Trump's presidency on the growth of Bitcoin, with various analysts sharing their views on how his policies will drive the cryptocurrency market forward.
A key analyst highlighted that the Trump administration's push to promote traditional assets such as shares of major companies such as Apple and Amazon could significantly boost Bitcoin's value. This could lead to a world where assets are traded digitally, making Bitcoin and other cryptocurrencies more integrated into the financial system. The analyst believes this could unlock trillions of dollars in new digital assets by 2025, creating a huge opportunity for Bitcoin.
Analysts say that Trump wants to increase the value of Bitcoin
Trump's former campaign chairman, Paul Manafort, also revealed that Trump plans to clean up the SEC and crack down on individuals who are more supportive of Bitcoin. Trump is expected to treat Bitcoin as part of America's strategic reserve. Analysts believe Trump will measure his success by the value of Bitcoin and take credit for any future increases. Some predict that Bitcoin will hit $500,000 under his leadership.
Additionally, Blockchain Association CEO Christine Smith, another analyst, also expressed a similar opinion and pointed out that the lack of a clear regulatory framework for Bitcoin exchanges has halted its growth. With Trump's pro-Bitcoin stance, she believes regulatory transparency will encourage more large companies to invest in Bitcoin, making it a major asset. Further pointing out the regulatory issues Coinbase and Robinhood faced could have been avoided with transparent policies that would have saved investors money.
Overall, analysts agree that a Trump presidency could mean a more favorable attitude toward Bitcoin change, clearer regulations, institutional adoption, and cryptocurrencies. This could make Bitcoin reach a new high with global presence.
Not everyone agrees with Trump's promises…
Ethan Vera, COO of Seattle-based Luxor Technologies, said in a recent Bloomberg interview that Trump's plan to outlaw all Bitcoin mining in the US is bogus and impractical because Bitcoin mining is an expensive and energy-intensive process, and most miners are being distributed. In a world where energy is cheap. So there is not much that Trump can do to change this wide distribution channel and attract Bitcoin miners to the US with deadly crypto policies.
