Don't Bank on Trump's Crypto Moves

13 replies 113 views
the_farmMember
Posts: 118 · Reputation: 44
#1Jan 5, 2021, 01:09 PM
Trump is just a person, no more powerful than us in the bitcoin scene. Sure, he can sway things a bit, but he doesn't control market trends. His antics can impact the market, but that doesn’t mean bitcoin can’t bounce back without him.
4 Reply Quote Share
block23Newbie
Posts: 60 · Reputation: 15
#2Jan 5, 2021, 02:18 PM
There's been an executive order, not a law yet. Trump signed this executive order about a crypto reserve. It's a start if he’s serious about his pro-crypto stance. We should support anyone pushing for crypto adoption, especially if it becomes official.
3 Reply Quote Share
the_farmMember
Posts: 118 · Reputation: 44
#3Jan 5, 2021, 05:15 PM
Yeah, if they actually get this reserve off the ground, it could be good news for investors. The US buying and holding bitcoin could pump values higher. But I worry that if his plans go sideways, we might end up worse off.
4 Reply Quote Share
1t5_satNewbie
Posts: 74 · Reputation: 16
#4Jan 5, 2021, 05:24 PM
Hold up, there's no buying happening. Trump said he's not using taxpayer cash for bitcoin or selling gold for it. Let’s be real, expecting them to buy is wishful thinking. With all the tariffs, the market is taking a hit.
4 Reply Quote Share
serHero Member
Posts: 580 · Reputation: 2321
#5Jan 5, 2021, 10:40 PM
How would that even help their debt situation? Even if the US owned every crypto out there, it wouldn’t change the fact that their value might be way less than what’s claimed. Plus, who knows how much BTC would actually be in those reserves.
2 Reply Quote Share
maxoracleMember
Posts: 352 · Reputation: 74
#6Jan 6, 2021, 12:17 AM
I’m cautiously optimistic about this reserve idea, but I don’t expect prices to shoot up overnight. The news may already be factored in, but I see long-term benefits as more investors get on board. I mean, if the right people are backing him, there's a decent chance it’ll happen.
6 Reply Quote Share
nick2015Member
Posts: 67 · Reputation: 54
#7Jan 6, 2021, 05:13 AM
If it goes through, I hope it benefits everyone, not just the big players with loads of bitcoin. It’s gotta be inclusive, right? But yeah, I get a bit skeptical about Trump’s motives sometimes.
1 Reply Quote Share
0xHawkMember
Posts: 175 · Reputation: 132
#8Jan 6, 2021, 07:05 AM
What makes you think this proposal will actually get passed? Sure, Republicans hold more seats, but the margin is slim, and not everyone’s on board with Trump. Democrats aren't exactly bitcoin fans either.
1 Reply Quote Share
the_farmMember
Posts: 118 · Reputation: 44
#9Jan 6, 2021, 07:36 AM
So if the US isn’t buying, does that mean they’re relying on recovered stolen bitcoins? Seriously, is that what we’re counting on for a reserve? It doesn’t seem like it would do much for the market.
3 Reply Quote Share
0xFarmFull Member
Posts: 117 · Reputation: 779
#10Jan 6, 2021, 12:18 PM
Politicians make promises to get votes, so I’m not buying Trump’s talk about bitcoin just yet. But if they push through a bitcoin reserve, it could be a big deal. If the proposal fails, though, that’ll hurt us all.
1 Reply Quote Share
wildaltNewbie
Posts: 174 · Reputation: 19
#11Jan 6, 2021, 11:05 PM
I don’t trust Trump either, but the dude knows how to rock the market. It’s annoying that investors often react to his tweets. I’m not banking on the reserve, but that EO is a step forward.
3 Reply Quote Share
Posts: 51 · Reputation: 108
#12Jan 7, 2021, 02:42 AM
This should be shared on X where people actually take Trump's words seriously about bitcoin. It seems no matter how inconsistent he is, some still hang on his every word.
0 Reply Quote Share
kevin_atlasFull Member
Posts: 178 · Reputation: 589
#13Jan 7, 2021, 04:52 AM
Charts are where it's at. News is muddled and can be misleading. BTC has been trading within a narrow range for weeks now. Feels like we’re just waiting for a major move, either way.
3 Reply Quote Share
Posts: 20 · Reputation: 221
#14Jan 7, 2021, 10:43 AM
It’s wild how Trump's actions haven't really helped bitcoin. It’s dropped a ton lately, and folks need to be cautious about his influence. It might be better to play it safe until we see some positive news.
0 Reply Quote Share

Related topics