#Trump Supports Cryptocurrency#

In the past, cryptocurrency was known as dark money, traded in dark markets; now it needs to be open and aboveboard. Therefore, the crypto community has transformed the phrase “Make America Great Again” (MAGA) into MBGA, “Make Bitcoin Great Again,” because Bitcoin has faced two rounds of suppression and significant setbacks during Biden's presidency. Now, the time for its resurgence has come, and the table is already filled with people discussing whether they can make cryptocurrency mainstream.

Of course, to truly make it mainstream, a series of institutional developments will be needed after Trump takes office:

First, the story needs to be well-crafted;

Second, some regulatory restrictions must be lifted, such as the fact that the Federal Deposit Insurance Corporation explicitly prohibits banks from providing loans to those involved in cryptocurrency trading. Currently, cryptocurrencies cannot directly connect with the U.S. banking system's accounts. Under the management of the aforementioned individuals, these obstacles should soon be eliminated;

Third, institutional investors need to be encouraged to invest in cryptocurrency. For instance, some pension funds have already begun investing in cryptocurrency;

Fourth, allowing foreign investment, just like foreign investments in the U.S. stock market. Will this approach to the development of cryptocurrency carry risks?

Certainly, there are risks. The first risk is that cryptocurrency has no assets to back it up; if it collapses, it will be unclear who to turn to for help;

The second, greater risk is that it could have a significant impact on the hegemony of the U.S. dollar. After World War II, the dollar's dominance grew alongside America's high technology, military, and credit. Whether Trump's actions will ultimately make him the grave digger of the dollar's hegemony or whether, like tying the dollar to gold in the past, he will tie it to cryptocurrency is uncertain, especially since these cryptocurrencies are directly related to his family's wealth.