Golden Finance reports that CITIC Securities indicates that going forward, Trump may establish a cryptocurrency advisory committee and consider Bitcoin as a strategic reserve asset for the U.S. Even if the U.S. Congress advances the Bitcoin reserve plan, we expect its pace to be slow and the process to be fraught with difficulties, having limited impact on the global U.S. dollar reserve currency system. However, cryptocurrency payments are expected to be promoted, especially the use of stablecoins in the field of cross-border payments may become more widespread. Given that the Republican Party has secured both the House and Senate, and Trump has shown a crackdown on the digital dollar in this election, it is anticipated that the Federal Reserve will be unable to launch a digital dollar during Trump's term; the Fed will continue to focus primarily on traditional economic indicators, with little impact from cryptocurrencies on its monetary policy. During the Trump 2.0 era, cryptocurrencies may amplify the volatility of the U.S. stock market to some extent and trigger a reallocation of liquidity among different assets. Cryptocurrencies will hold a more important position in overseas asset allocation portfolios, and it is expected that U.S. stock-related cryptocurrency assets will also benefit from policy dividends. (Jin Shi)

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