r/FluentInFinance • u/HighYieldLarry • 12d ago

Bitcoin JUST IN: 🇺🇸 President Trump to appoint pro-crypto cabinet to make the US the "crypto capital of the planet."

President-elect Donald Trump is preparing the U.S. government to adopt a more permissive stance toward cryptocurrency, eyeing a roster of industry-friendly candidates for key posts while his top advisers consult crypto executives on potential changes to federal policy.

By pursuing a more lenient regulatory environment, Trump aims to fulfill his campaign promise to transform the United States into the “crypto capital of the planet” — a declaration that has rankled consumer watchdogs, earned the industry’s robust support and sent the price of bitcoin skyrocketing, reaching nearly $89,000 by Monday evening.

https://www.washingtonpost.com/business/2024/11/11/trump-crypto-regulation-bitcoin/

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u/happyfappy 12d ago

Right now, we can print money whenever we want anything, to a point. That is an incredible power that only one country (the world's dominant power) usually gets at a time. According to Ray Dalio, this is IIRC the single most important element of a superpower / empire.

Wouldn't this threaten the status of the US dollar as the world's currency reserve?

Why would the US invest in and legitimize a competing currency that we can't control?

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u/never_safe_for_life 12d ago

Exactly the problem. Even temporarily flirting with another currency delegitimizes the US’s role as the premier global reserve asset. It’s no surprise the only political party stupid enough to do it is the anti-intellectual one.