CandleFocus Bitcoin Not a Threat to US Dollar, Donald Trump Asserts
2024-11-04
Author: Content Editor
Former US President Donald Trump believes that Bitcoin does not pose a threat to the dollar, which has generated optimism in the crypto community regarding mainstream adoption. Trump's comments came during a speech at the Bitcoin Conference 2024. Global authorities have previously criticized Bitcoin for its impact on fiscal policies and driving investment abroad. However, according to Trump, it is the behavior of the current US government, including increased spending, inflation, and rising debt, that poses a threat to the dollar. Many crypto enthusiasts have turned to Bitcoin as a hedge against these issues. Trump also promised to fire SEC Chairman Gary Gensler if he were to win the upcoming elections. Gensler has faced criticism for his tough regulatory decisions, and the lack of clear rules in the US crypto space has prompted developers to seek other jurisdictions. This regulatory environment has created fear and selling pressure in the market, limiting investment and affecting asset prices.
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