Trump's gamble on Bitcoin may trigger a global financial tsunami?
The dramatic shift in the Trump administration's attitude towards Bitcoin. Trump not only appointed David Sacks, a close ally of Tesla CEO Elon Musk, to oversee cryptocurrency-related affairs at the White House but also ambitiously plans to incorporate Bitcoin into the national reserve system, viewing it as a 'new tool' to enhance national economic strength. Behind this shift is the Trump administration's deeper motivation to reshape the global financial order by embracing cryptocurrency and seeking economic hegemony.
The global risks of Bitcoin's volatility and regulatory absence
Xinhua's commentary sharply points out that the extreme volatility of Bitcoin and the current lack of regulatory framework not only pose a severe challenge to the U.S. financial market but may also trigger a chain reaction globally, threatening economic stability. This view has resonated strongly with domestic and international readers, particularly in China, where netizens have generally expressed deep concerns about the potential risks of cryptocurrencies and called for the government to take necessary preventive measures.
The political and economic background of Trump's attitude shift
Exploring the political and economic roots of Trump's abrupt shift in attitude towards Bitcoin. From initial denial to now actively embracing it, this transformation is closely linked to the strong push from American Political Action Committees, of which Musk is a key member. This finding reveals the complex political games and economic interests behind the Trump administration's cryptocurrency strategy.
Finally, Xinhua's commentary is not only a profound warning about the risks of Bitcoin but also an important declaration of China's clear stance in the global digital currency field. Against the backdrop of the Trump administration and figures like Musk actively promoting cryptocurrency strategies, the Chinese government's cautious attitude and commitment to financial security stand out. This not only reflects China's sense of responsibility for the stability of the global financial order but also highlights China's determination and confidence in independently developing in the digital currency field.
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