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Bitcoin exceeded $70 thousand after Trump's performing

July, 29 2024
watermark Economic news

US presidential candidate and former President Donald Trump said that if elected, he would make the United States a «bitcoin superpower» and the «crypto capital» of the world. He announced this at a bitcoin conference in Nashville.


Trump promised that if he returned to the White House, the federal government would not sell its bitcoin assets. In his speech, the former president stressed that the Republican Party is increasingly supporting cryptocurrency, in contrast to the tough approach to regulation, which, according to him, is practiced by the administration of incumbent President Joe Biden.


Trump also promised to put an end to the «anti-currency crusade» of Biden and Vice President Kamala Harris and fire the chairman of the Securities and Exchange Commission (SEC) on the first day of his return to power.


This speech by Trump was a «180 degree reversal», as he had previously criticized bitcoin during his presidency. In 2019, he stated that he was «not a fan» of bitcoins and other cryptocurrencies and called digital currencies a scam. He explained his dislike by the fact that the cryptocurrency competes with the dollar.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.