President Trump About To Create New Generational Wealth?
Donald Trump’s growing support of cryptocurrency not only is a massive change from his previous position but seems to be set to create new forms of wealth. We all know he previously stated dismissed Bitcoin as "not money" and "based on thin air,". But his recent policies and initiatives aim to position the U.S. as a crypto powerhouse. While his actions have sent the market skyhigh by driving Bitcoin to record highs and could generate unprecedented wealth.
World Liberty Financial Group
During his re-election campaign Trump not only was a key note speaker at a Bitcoin convention but also launched his own crypto venture. World Liberty Financial which secured millions in donations from cryptocurrency holders. His promise to make America the “crypto capital of the planet” has seen growth in the sector with investors driving Bitcoin’s value to over USD 100,000.
Trump's administration will also include a suite of crypto advocates and he is also seeking on establishing a U.S Bitcoin reserve to secure the nations financial security well into the future. While we don't know if it will be successful, one could only imagine how better off most nations would be today if they established a Bitcoin Reserve when the price of Bitcoin for US. 30c.
from published information a strategic Bitcoin reserve would mirror the U.S. Strategic Petroleum Reserve, which stockpiles crude oil for emergencies. While oil has tangible applications in energy and industry, Bitcoin’s utility in crisis scenarios is less clear. Critics do currently argue that stockpiling a volatile asset like Bitcoin could expose taxpayers to unnecessary risks, particularly if its value plummets during a "crypto winter.".
Industry Experts Don't Fear Crypto Winters
The leading industry experts see the reserve as a hedge against inflation and geopolitical threats. Wyoming Senator Cynthia Lummis has proposed a bill to purchase one million Bitcoin over five years comments attributed to her revolve around that this would bolster the U.S. dollar's global standing. Trump himself has framed the initiative as a pre-emptive move against rivals like China hoarding Bitcoin.
Still, the proposal faces significant hurdles including opposition within Trump’s own party and resistance from Federal Reserve Chair Jerome Powell who dismissed the idea as outside the Fed’s mandate.
Trump’s pro crypto stance has already created immense wealth for industry leaders. Coinbase CEO Brian Armstrong saw his holdings swell by USD 2 billion following the election, while Ripple’s Brad Garlinghouse benefitted from XRP’s meteoric rise. These gains show the economic potential of a crypto friendly administration.
Potential to create New Wealth
While the world is beholden to old wealth these latest suites of policies and shifts in legislation have the ability to create new wealth for many who adopted the sector very early on. While old wealth has recently been entering the scene there are still many early adopters who invested very little money and are now hodling.
How many will make it to the end? let's see what the future holds.
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Posted Using InLeo Alpha
