How do these individuals affect the world of cryptocurrencies?
Both Donald Trump and Elon Musk have a significant impact on the world of cryptocurrencies, albeit in different ways:
Donald Trump and cryptocurrencies
• Political stance: During his presidency, Trump was critical of Bitcoin and other cryptocurrencies, calling them "junk" and stating that they could facilitate illegal activities. He advocated for more control over the traditional financial system.
• Recent change: However, lately he has softened his rhetoric somewhat, and has even launched NFTs (non-fungible tokens) on the blockchain, indicating some strategic or commercial interest.
• Market impact: Trump's statements do not usually move prices as much as those of Elon Musk, but his political influence can indeed affect the regulation of the crypto sector in the U.S., which indirectly impacts the market.
Elon Musk and cryptocurrencies
• Direct influence: Musk has a large influence on the crypto market, especially with coins like Bitcoin, Dogecoin, and other altcoins. His tweets or public comments have caused huge price fluctuations.
• Dogecoin: He has been one of the main promoters of this coin, calling it "the people's cryptocurrency."
• Tesla and Bitcoin: Tesla, his company, bought large amounts of Bitcoin in 2021, although later sold part of it. This directly affected the price.
In summary:
• Trump has more influence on the regulatory and political aspect, which in the long term may change the crypto environment in the U.S.
• Musk influences market sentiment and speculation, causing more immediate and volatile price movements.
