Trump’s actions have a considerable impact on the cryptocurrency market. It is not an exaggeration to say that each of its words upsets the market and that investors in cryptocurrencies are very sensitive to its declarations.
Recently, while some countries are preparing to include cryptocurrencies in their institutional framework, the craze for cryptocurrencies extends not only to the main existing cryptocurrencies such as bitcoin, but also to memeas launched by Trump. The Trump family drew public attention by earning billions of dollars in a short time thanks to these same corners, which are intangible digital assets.
However, the main existing investors in cryptocurrencies fear that the rise in power of the same corners will only move confidence in the entire cryptocurrency market. It is interesting to see what Trump impact, which was once considered a hero in the cryptocurrency industry, will have in the future on this market.
Bitcoin shaken by the reappearance of Trump
The expectations and disappointments concerning Trump’s “virtual currency” policy led to repeated fluctuations on the coin market. During his campaign, Trump promised various policies aimed at revitalizing the virtual asset sector. In particular, his promise to keep Bitcoin as a strategic reserve of the American federal government has drawn attention.
After winning the elections, Trump clearly expressed his intentions by appointing defenders of cryptocurrencies to key positions. He appointed Howard Lunick, CEO of Cantor Fitzgerald, as Secretary of Commerce, and Paul Atkins, longtime veteran of Washington DC and Crypto-Monnaies defender, head of the Securities and Exchange Commission (SEC). In this atmosphere, Bitcoin reached a record level of $ 109,000 before Trump’s inauguration.
In addition, President Trump is committed to creating an advisory committee on Bitcoin and virtual assets made up of industry representatives and opposed the digital currency of the American Central Bank (CDBC).
After his inauguration, the absence of decrees on cryptocurrencies led to a temporary fall in Bitcoin. There is also an analysis according to which the anticipation of Trump’s inauguration has dissipated. Crypto Dan, a cryptocurrency contributor, explained: “Anticipation due to the inauguration of Trump acted as a boon, but his influence decreases”, while adding: “However, if the Trump administration implements Related policies such as deregulation and tax reductions, investments The feeling could improve again.
Same corners, change the landscape of the coin market?
Some fear that the coin industry has been taken by the emission of coins by Trump. Just before his inauguration, Trump successively launched the coins “official Trump” and “official Melania even”. The memes parts are speculative virtual currencies created on the basis of parody without real utility.
In the coin industry, it is feared that the credibility of cryptocurrencies, which had been meticulously rebuilt after the bankruptcy of the main FTX grant in 2022, was not shaken by the success of Trump’s coins. Mark Cuban, an investor in cryptocurrency and a democratic supporter, expressed his concern by declaring: “People could think that the memes parts are the foundation of the cryptocurrency industry. “Ryan Selkis, former CEO of Messari and Trump’s known supporter, criticized:” The adviser who suggested launch Melania Coin should be dismissed. »»
Some also claim that the play itself has conflicts of potential interests. Indeed, a significant part of the profits from the increase in the price of the documents is awarded to the Trump family. 80 % of Trump’s parts supply is held by a subsidiary of the Trump group, which Eric is executive vice-president.
On the other hand, some voices expect the same corners attracting new investors. Recently, ETFs based on cryptocurrencies like Solana and Ripple were deposited with the SEC. The financial companies Rex Financial and Osprey Funds asked for the approval of the dry for an ETF based on Trump parts.
Journalist Hyein lee [email protected]
