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Trump’s Bitcoin Policies Depend on US Economic Situation - Ki Young Joo

Although the US dollar has lost more than 90% of its value since 1913, it still dominates all other fiat currencies as a store of value.

Ki Young Joo, CEO and founder of CryptoQuant, said that President-elect Donald Trump’s Bitcoin

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The policies are likely to depend on the perceived strength of the US economy and the US dollar from the global investment community.

Joo claimed that store-of-value assets such as gold and Bitcoin rise in price when investors feel that US economic dominance is being threatened. However, investors continue to express confidence in the US economy and view the US dollar as a safe haven currency.

The CEO said that this strong position makes it unlikely that the Trump administration will adopt a strategic reserve of Bitcoin to protect the US dollar’s ​​dominance and could cause the president-elect to backtrack on his pro-Bitcoin policies. “Even before his inauguration, Trump has been constantly warning other world leaders about the power gap between the United States and other countries,” the company’s CEO wrote. “This rhetoric, coupled with increased capital flows into the dollar, could renew confidence in his superiority.”