Trump may announce that Bitcoin will be used as a reserve asset. Is it a campaign strategy or is he really optimistic?
It is reported that Trump will announce that Bitcoin will be used as a [strategic reserve asset] at the Bitcoin 2024 conference held this month. Once this is done, it will inevitably affect the global pattern of Bitcoin.
So, what is his purpose in doing this?
I personally think that the political purpose is stronger. In 2019, Trump was still an opponent of cryptocurrency and believed that it would be used in illegal activities. However, this year, not only did he release NFT products himself, but he also said at a dinner that if you support crypto assets, then vote for him and use cryptocurrency to canvass for yourself.
The United States is the country with the most Bitcoins, with more than 200,000. If Bitcoin is really used as a strategic reserve asset, it will consolidate Bitcoin's position as digital gold, but will it affect the price trend of the currency? This needs further discussion.
If people start buying frantically, but the US government does not inject funds, the price of Bitcoin may decline. There are many factors that affect the price of the currency.