Former President Donald Trump has expressed strong support for Bitcoin, suggesting it should be considered a strategic reserve asset. He warned that restricting Bitcoin’s growth would benefit China and Russia.
Donald Trump, the 45th President of the United States, is known for his outspoken views on a wide range of topics. Historically, Trump has been skeptical of Bitcoin and cryptocurrencies, labeling them as volatile and potentially fraudulent. However, his recent endorsement of Bitcoin as a strategic reserve asset marks a significant shift in his stance, highlighting the evolving perception of digital currencies in the global financial landscape.
Former President Donald Trump has again shown strong support for Bitcoin. He said that Bitcoin could be considered a strategic reserve asset, according to a Forbes report.
Sam Lyman, the policy director of top bitcoin mining firm Riot, responded to this recent stance of Trump & said that Trump acknowledged Bitcoin’s geopolitical significance and warned that policies hindering its growth would benefit China and Russia.
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Trump’s endorsement positions him as the first major political party nominee to embrace Bitcoin in the USA, likely aiming to gain support from cryptocurrency enthusiasts in the upcoming US presidential election. This move highlights his recognition of Bitcoin as a strategic reserve asset and seeks to appeal to the growing community of crypto supporters.
Cynthia Lummis’s support for Bitcoin
The US Senator Cynthia Lummis from Wyoming, known as the “Crypto Queen” of Congress, has recently suggested that the Federal Reserve diversify its foreign currency holdings by adding Bitcoin to its balance sheet. Lummis believes Bitcoin is an excellent store of value and advocates for the government to diversify its investments to include the cryptocurrency.
These days, Cynthia is planning to appear at a major Bitcoin-focused event to share her thoughts on the future of Bitcoin adoption in the US under the new crypto bill.
Read also: Ethereum Surges 100% Against Bitcoin in Annual Revenue from Transaction Fees
Donald Trump Champions Bitcoin: Calls for Bitcoin as Strategic Reserve Asset
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