??? Musk is making big moves again—initiating a vote online to establish the 'American Party,' with over 1.08 million participants, and 64% supporting it! This is directly tied to the 'great and good' tax bill that Trump just signed. Musk had previously stated: if the bill passes, he will immediately form a new party, and he criticized the lawmakers supporting the bill as 'embarrassing.'
What impact will this have on the crypto space?

Old Y's brief discussion

  • Where will the money go? Will cryptocurrency prices soar? With Trump signing this bill, the dollar may become 'inflated.' In the past, when the dollar devalued, many people liked to get involved in the crypto space (thinking about preserving value). Also, if Musk really forms a party, the uncertainties in U.S. politics might increase, and funds could flow into the crypto space to avoid risks, which could likely cause cryptocurrency prices to jump a few times.

  • Will regulation be loose or tight in the future? We don’t need to say much about Musk's influence, right? If this new party succeeds, the political landscape in the U.S. might change. If the new party is 'friendly' towards the crypto space, it might promote policies that give the crypto world a 'positive name,' such as clear positioning and regulated trading; but if the opposite happens, with strict regulation or even trading restrictions, that could be quite troublesome.

  • Is the mentality in the crypto space changing? Over 60% of those participating in the vote support forming a party, and many crypto players might feel 'hopeful,' thinking future policies might be favorable. Once confidence rises, more people may rush in to trade cryptocurrencies and engage in related businesses. Moreover, everyone will surely keep an eye on U.S. political developments, and market sentiment is likely to fluctuate accordingly.

  • Will technology take off? Musk's companies are quite innovative. If the new party promotes tech policies, it might also help blockchain technology be applied more smoothly in the crypto space, such as making transactions safer, more efficient, or even expanding into new application scenarios.


Anyway, there are a lot of uncertainties now. What do you think? Do you believe Musk's move can succeed? Whether the crypto space will rise or fall will be revealed in due time!#大而美法案 #马斯克搞事 #特朗普马斯克分歧