๐ฝ๐๐ฉ๐๐ค๐๐ฃ $BTC ๐๐๐ฉ๐จ $ ๐ญ๐ฌ๐ฌ,๐ฌ๐ฌ๐ฌ: ๐๐๐๐ฉ ๐๐ง๐ช๐ข๐ฅ'๐จ ๐๐ง๐ค๐ข๐๐จ๐๐จ ๐๐๐๐ฃ ๐๐ค๐ง ๐ฉ๐๐ ๐๐๐ง๐ ๐๐ฉ๐จ
Bitcoin has recently reached an incredible milestone of $ 100,000. This comes at a time when former President Donald Trump has made several promises that could significantly impact the crypto market. Although Trump had not talked much about cryptocurrency before, his recent campaign has seen him making big commitments to the industry, which has been a major source of campaign funding for him.
๐๐๐๐ฅ๐๐ฃ๐ ๐ฝ๐๐ฉ๐๐ค๐๐ฃ ๐๐ฃ ๐๐ค๐ซ๐๐ง๐ฃ๐ข๐๐ฃ๐ฉ ๐๐๐ฃ๐๐จ
In July, at a major bitcoin conference in Nashville, Trump promised that if he is re-elected, his administration will never sell off the bitcoin the government holds. This is to keep the market stable and avoid price drops that happen when the government sells seized crypto assets.
โFor too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin,โ Trump said. He pledged to keep all the bitcoin the U.S. government currently holds or acquires in the future.
๐พ๐๐๐ฃ๐๐๐ฃ๐ ๐พ๐ง๐ฎ๐ฅ๐ฉ๐ค ๐๐๐๐ช๐ก๐๐ฉ๐๐ค๐ฃ๐จ
Trump has also promised to remove U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler, who has been tough on the crypto industry. Although the president can't directly fire the SEC chair, Trump plans to appoint a new chairman who is more supportive of crypto.
Gensler has taken many actions against crypto firms, which has caused tension in the industry. Trumpโs plan to create a โbitcoin and crypto presidential advisory councilโ suggests he wants to make the rules more favorable for crypto businesses.
๐๐๐ฃ๐๐ฃ๐ ๐ฝ๐๐ฉ๐๐ค๐๐ฃ ๐๐ฃ ๐ฉ๐๐ ๐๐๐ผ
Trump wants all bitcoin to be mined in the USA. In a meeting with bitcoin mining executives in Florida, he emphasized the importance of making the U.S. a leader in bitcoin mining.
โBidenโs hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!!โ Trump posted on Truth Social. This move aims to boost energy production and ensure the U.S. leads in the crypto mining industry.
๐๐ค๐ฌ๐๐ง๐๐ฃ๐ ๐๐ฃ๐ฉ๐๐ง๐๐จ๐ฉ ๐๐๐ฉ๐๐จ
Trump has also promised to lower interest rates if he is re-elected. Although the Federal Reserve, which sets these rates, operates independently, Trumpโs influence could lead to lower rates. Lower interest rates usually lead to higher crypto prices because it becomes cheaper to borrow money.
In August, Trump reiterated his commitment to lower interest rates, which could further boost the crypto market. The recent decision by Fed Chair Jerome Powell to cut rates has already set a precedent for this potential policy shift.
As Bitcoin hits $ 100,000, Trumpโs promises can have a big impact on the crypto market. From keeping a national stockpile of bitcoin to creating a more favorable regulatory environment and ensuring bitcoin mining happens in the USA, these commitments could shape the future of cryptocurrency. With a Republican-controlled Senate, Trumpโs pro-crypto platform may face fewer obstacles, potentially leading to a new era of growth for crypto.
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