Is POTUS Donald Trump Secretly Becoming Bitcoin’s Biggest Bull Market Catalyst?
Trump: The Slowly, Unknowningly Bitcoin Champion in the Making Due to These Three Primary Reasons?
Could Donald Trump, the pro-nationalism president of the United States who was elected for office promising to Make America Great Again (by cutting ties with other countries, it seems) be a Bitcoin champion?
Most people would say no but a new article on the Bitcoinist affirms that there three very valid reasons for why Trump is such an important Bitcoin defender, even if he doesn’t really know.
Trump Makes the FED Looks Bad
Since the dawn of Bitcoin, there is the belief that if the Central Banks looks bad, this can be good for Bitcoin and Trump makes it look very bad and dependent. Ever since Trump started his government, he wants to take over the Federal Reserve Bank (FED).
His efforts seem to be paying out so far. He’s already placed four of the seven board members according to his taste. According to recent reports, this is bad for Central Banks because it makes them look like branches of the current government when they actually should not look like that.
Elections happen all the time and investors need some stability in order to make a profit, so they choose to invest in the most stable countries. If the Central Bank will change a lot of its work whenever a new president gets in the power, this can harm the economy and the trust in the Central Bank.
Also, Trump is waging an open war against the FED, which makes the whole thing look even more ridiculous. Weaking central banks is a major strategy for Bitcoin that will important in order to get its space in the market.
Trump Appointed Pro-Bitcoin Staff For Important Positions
Another important move that Trump has made and can benefit the crypto market is to appoint people who support Bitcoin to high places. An example is Mick Mulvaney, which was recently appointed as the new budget director for the government. He was known for defending Bitcoin and for educating people in Washington about the currency.
Mulvaney was also responsible for creating the Blockchain Caucus, a bipartisan initiative that would discuss the potential of the blockchain technology for the country and the national government. While he remains in office, it seems like Bitcoin has an ally in the U. S. government, which is great for it.
Economic Turmoil is Good For Bitcoin
Most people in the crypto industry believe that governments are spending too much. In fact, their debt only seems to pile up, which is a problem that will eventually lead to some kind of new problem, some even say that it will trigger the next economic collapse in the world.
In any case, Trump is helping to create this problem with several decisions that, just like his predecessors, are making the debt go up.
Bitcoin is very anti-bank and it has always grown when banks failed people, so the hope of the investors is that the next economic recession will have a very important effect on the crypto asset.
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