Recently, cryptocurrencies have received increasing attention around the world, especially in the US political arena, where Vice President Harris and former President Trump have expressed varying degrees of "support" for cryptocurrencies. With the US national debt reaching $35 trillion, cryptocurrencies, especially Bitcoin, seem to be seen as a possible solution.
In a recent speech, Vice President Harris said her administration would "encourage innovative technologies like artificial intelligence and digital assets while protecting our consumers and investors." This is Harris' first cryptocurrency-related commitment and a sharp contrast to her previous silence on the issue.
Although Bitcoin or cryptocurrencies were not explicitly mentioned, the remarks indicate her active stance in winning over crypto-friendly voters. However, some analysts pointed out that Harris' support may be more of a political gesture than an actual policy commitment. Her remarks did not elaborate on how to specifically promote the use or regulation of cryptocurrencies.
On the other hand, her presidential opponent, Donald Trump, has fully embraced cryptocurrencies after years of skepticism, with his family’s latest investment dabbling in decentralized finance (DeFi). Early details of Trump’s World Liberty Financial were criticized by some cryptocurrency advocates, but Trump actively supported the cryptocurrency industry during his campaign.
He also promised that Trump will increasingly embrace Bitcoin and cryptocurrencies during his 2024 presidential campaign. Recently, when asked about the future of cryptocurrencies, Trump responded that he believes "cryptocurrencies have a great future" and suggested using it to pay down the $35 trillion U.S. national debt. Of course, this is seen as part of his support for cryptocurrencies during his 2024 campaign.
This is consistent with Trump’s previous positive statements on Bitcoin and cryptocurrencies as he is courting a growing group of Bitcoin and cryptocurrency voters. He promised that if re-elected, Trump’s second administration will make the United States the “cryptocurrency capital of the world” through policies that support digital assets.
Now, with both leading presidential candidates openly discussing Bitcoin and cryptocurrency-related policies, it appears that Bitcoin and cryptocurrencies are entering the political mainstream, demonstrating their growing bipartisan appeal.
In this context, Robert Kiyosaki, a well-known investor and author of "Rich Dad Poor Dad", said that in fact it makes no difference whether Trump or Harris becomes president this year. The real problem lies in the huge debt of 35 trillion US dollars in the United States. None of them can solve this problem. Only Bitcoin can save it.
The US debt increases by $1 trillion every 100 days, and the interest on the debt is the largest expenditure of the US, exceeding $1 trillion every year. In this regard, Kiyosaki reiterated the bleak future of the US dollar, saying that only hoarding gold, silver and Bitcoin can save it. He particularly emphasized that the accumulation of assets such as Bitcoin is an important means to deal with economic uncertainty. He suggested that individual investors should make reasonable allocations between gold, silver and Bitcoin to resist the risks of inflation and economic recession.
In addition, many cryptocurrency experts believe that Bitcoin, as digital gold, its scarcity and decentralized characteristics make it an important asset against inflation and global economic instability. Especially as governments across the country continue to print money, the value of Bitcoin has the potential to rise significantly.
According to forecasts from multiple market analysts, Bitcoin is likely to see explosive growth in the next few years. In particular, some optimistic forecasts indicate that the price of Bitcoin is expected to reach $500,000 by 2025, and may even exceed $1 million by 2030. These forecasts are based on a number of factors, including increased market demand, a continued influx of institutional investors, and global economic uncertainty.
Despite the volatility, Bitcoin's long-term prospects continue to attract a large number of investors. Many believe that as more people realize the potential value of Bitcoin, its demand will continue to rise, especially in the face of inflation and global economic instability.
However, focusing on the present, although Harris and Trump have expressed their "support" for cryptocurrencies, the market environment and policy background remain complex. At present, the regulatory policies of the cryptocurrency market are still evolving, and how to find a balance between innovation and risk is the main challenge facing governments around the world.
In addition, many countries have different attitudes towards cryptocurrencies, with some countries choosing to ban them outright and others trying to establish a regulatory framework. In such a global environment, the value and status of digital assets such as Bitcoin remain uncertain.
In general, Harris and Trump's "support" for cryptocurrencies reflects the gradual recognition of cryptocurrencies in American politics. However, the actual policy implementation still needs further observation. As a representative of cryptocurrencies, Bitcoin is gradually being seen as a possible means to deal with the huge debt of the United States, and its price may also rise sharply in the future under the influence of various factors.
As the market's attention to cryptocurrencies such as Bitcoin continues to increase, investors should carefully assess risks and rationally allocate assets. At the same time, changes in the regulatory environment will also have a profound impact on the future development of cryptocurrencies. In this rapidly changing era of digital currencies, whoever can seize opportunities will be able to occupy a favorable position in the future financial ecology.
