百币精
--
5. $1.66 billion fleeing! Bitcoin plummets, is Trump's plan going to fail?
Since Trump participated in the 2024 election, cryptocurrency has been included in his core policies. He proposed that the United States establish a cryptocurrency strategic reserve, covering Bitcoin, Ethereum, and other digital currencies, in an attempt to extend the dollar's hegemony into the blockchain realm, drawing inspiration from the Bretton Woods system of 1944, which linked the dollar to gold. If successful, Bitcoin and other crypto assets would be granted fiat status.
However, this plan has encountered obstacles in reality. The latest polls show that more than half of American voters oppose the government using public funds to purchase cryptocurrencies, with only 34% in support. Among Republican voters, the support rate is 41%, while the opposition rate among Democratic voters reaches 59%. 36% of Republican respondents believe that government funding for cryptocurrencies and blockchain should be reduced, with only 12% in favor of increasing it. Due to soaring prices in the U.S. caused by tariffs, the public is already dissatisfied and even less willing to have the government invest their money in the highly volatile cryptocurrency market, with tokens related to the Trump family, such as wrfi and Melania's token, plummeting by over 70%.
Currently, the U.S. government has committed to holding 180,000 Bitcoins (valued at $18 billion) without selling them, but to establish Bitcoin's foothold in the strategic reserve plan, the reserve must account for at least 10% of the total, which is clearly insufficient at present. Marcus Teren, chief cryptocurrency researcher at TenX Research, predicts that Bitcoin may replicate its 2024 trend, reaching new highs followed by long-term consolidation. Since Bitcoin fell below $90,000 in early March, approximately $1.66 billion has flowed out of the U.S. Bitcoin spot ETF, with no signs of bottom fishing.
The essence of this controversy is the clash between the belief in decentralization and real political interests. Trump wants cryptocurrencies to serve the will of the American state, but it has triggered voters' vigilance against power rent-seeking. The decentralized spirit of Bitcoin encounters Washington's political dealings, and the market's trajectory over the next six months—whether it will remain in long-term consolidation or surge under policy stimulus—is full of uncertainty. This tug-of-war may become a landmark event in the crypto industry. From a broader perspective, Trump's policies deviate from the traditional international and economic order of the United States. Once American credit is bankrupt, decline is only a matter of time. The fact that Bitcoin's entry into the U.S. strategic reserve has not triggered a rush to buy from other countries is evidence that Satoshi Nakamoto's algorithm is not subject to political influence.
Since Trump participated in the 2024 election, cryptocurrency has been included in his core policies. He proposed that the United States establish a cryptocurrency strategic reserve, covering Bitcoin, Ethereum, and other digital currencies, in an attempt to extend the dollar's hegemony into the blockchain realm, drawing inspiration from the Bretton Woods system of 1944, which linked the dollar to gold. If successful, Bitcoin and other crypto assets would be granted fiat status.
However, this plan has encountered obstacles in reality. The latest polls show that more than half of American voters oppose the government using public funds to purchase cryptocurrencies, with only 34% in support. Among Republican voters, the support rate is 41%, while the opposition rate among Democratic voters reaches 59%. 36% of Republican respondents believe that government funding for cryptocurrencies and blockchain should be reduced, with only 12% in favor of increasing it. Due to soaring prices in the U.S. caused by tariffs, the public is already dissatisfied and even less willing to have the government invest their money in the highly volatile cryptocurrency market, with tokens related to the Trump family, such as wrfi and Melania's token, plummeting by over 70%.
Currently, the U.S. government has committed to holding 180,000 Bitcoins (valued at $18 billion) without selling them, but to establish Bitcoin's foothold in the strategic reserve plan, the reserve must account for at least 10% of the total, which is clearly insufficient at present. Marcus Teren, chief cryptocurrency researcher at TenX Research, predicts that Bitcoin may replicate its 2024 trend, reaching new highs followed by long-term consolidation. Since Bitcoin fell below $90,000 in early March, approximately $1.66 billion has flowed out of the U.S. Bitcoin spot ETF, with no signs of bottom fishing.
The essence of this controversy is the clash between the belief in decentralization and real political interests. Trump wants cryptocurrencies to serve the will of the American state, but it has triggered voters' vigilance against power rent-seeking. The decentralized spirit of Bitcoin encounters Washington's political dealings, and the market's trajectory over the next six months—whether it will remain in long-term consolidation or surge under policy stimulus—is full of uncertainty. This tug-of-war may become a landmark event in the crypto industry. From a broader perspective, Trump's policies deviate from the traditional international and economic order of the United States. Once American credit is bankrupt, decline is only a matter of time. The fact that Bitcoin's entry into the U.S. strategic reserve has not triggered a rush to buy from other countries is evidence that Satoshi Nakamoto's algorithm is not subject to political influence.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
0
0