[Trump Signs Executive Order Establishing Digital Currency Working Group: Evaluating Creation of National Reserves, Banning Central Bank Digital Currencies]
Trump signed an executive order establishing the President’s Task Force on Digital Asset Markets. The task force is tasked with structuring a federal regulatory framework for digital assets, including stablecoins, and evaluating the creation of strategic national digital asset reserves. The task force will be chaired by David Sachs, the White House’s “AI and Cryptocurrency Czar,” and will include the Secretary of the Treasury, the Chairman of the Securities and Exchange Commission, and other heads of relevant departments and agencies. The executive order directs departments to make recommendations to the task force on any regulations and other institutional actions affecting the digital asset sector that should be repealed or modified. Additionally, the executive order prohibits institutions from taking any action to create, issue, or promote a central bank digital currency (CBDC). The employers’ organization also rescinded the previous administration’s executive order on digital assets and the Treasury Department’s framework for international participation in digital assets, claiming that they stifled innovation and undermined American economic freedom and global leadership in digital finance.
#Trump signs US Reserve Bitcoin strategy
Some people think that the good is over and that the price of Bitcoin will go down. I have the opposite view, and moreover, the US government did not start buying Bitcoin after Trump signed the Strategic Bitcoin Reserve. Where did the idea that the good is over and the price will go down come from? Even if the US does buy, it is not comparable to individuals and institutions.
If Trump signs a law or policy related to the strategic reserve of Bitcoin in the United States, it could have a positive impact on the price of Bitcoin and push it higher. Here is my personal view:
Positive impact of political signals
Trump’s signature on the US Bitcoin Strategic Reserve Act means that Bitcoin has received official recognition and support from the US government. This political signal will greatly boost investor confidence in Bitcoin and encourage more money to flow into the Bitcoin market. At the same time, it will also increase Bitcoin’s popularity and influence globally.
change in supply and demand relationship
The inclusion of Bitcoin in the US Strategic Reserve will directly increase the demand for Bitcoin. As demand increases, the scarcity of Bitcoin will be further exposed, driving up its price. In addition, this policy may attract other countries’ interest and emulation of Bitcoin, further boosting the growth of global demand for Bitcoin.
Stimulate market sentiment
Trump’s signing of the US Bitcoin Strategic Reserve Plan may boost the market landscape and raise investors’ expectations for optimism. Under the impetus of the optimistic landscape, investors may participate more actively in Bitcoin trading, further boosting its price.
There's a new move at Trump Financial, as they just bought $10M worth of ETH and $2.65M worth of TRX.
Understanding Trump's Cryptocurrency Relationships with a Chart:
These people control the best resources in the world, and have the ability to move money and financial power in ways we can't imagine, so...
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