CryptoQuant CEO comments on Trump potential Bitcoin policies
Ki Young Ju links Bitcoin policy to U.S. dollar strength
Ki Young Ju, CEO and founder of CryptoQuant, commented on President-elect Donald Trump’s potential Bitcoin policies in a post on X.
Ju believes that Trump’s stance on Bitcoin will likely depend on the global perception of U.S. economic strength and the dominance of the dollar.
Bitcoin as the new "digital gold"
Historically, during times when U.S. economic supremacy seemed threatened, gold prices surged. In the late 1990s, gold proponents like Peter Schiff actively promoted gold as the ultimate form of money. Similarly, today’s Bitcoin enthusiasts, known as Bitcoin maximalists, view the cryptocurrency as a digital alternative to gold. However, despite interest in the gold standard during economic crises, the U.S. has avoided reverting to it, opting instead for innovative solutions to sustain growth. Today, Bitcoin appears to have taken the ideological space once occupied by gold.
Ju personally supports the concept of a "Bitcoin Standard" but expresses skepticism about its implementation in the U.S. He argues that discussions around this idea will only gain serious momentum if U.S. economic dominance is genuinely threatened.
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Dollar vs. Bitcoin
For now, the dollar remains a highly sought-after safe-haven asset. Ju notes that global capital continues to flow into the U.S., further reinforcing the dollar’s position. Even in South Korea, where the dollar is trusted more than gold or Bitcoin, the weakening Korean won has only strengthened this preference.
While it is theoretically possible for the U.S. government to consider Bitcoin as a risk management tool, Ju emphasizes that such actions are unlikely to align with the ideology of Bitcoin maximalists. The government’s motivations would likely focus on economic leverage rather than a fundamental shift in monetary policy.
Trump’s rhetoric vs. actions
Trump frequently emphasized Bitcoin’s importance as a strategic asset during his campaign. However, Ju suggests that Trump’s ability to quickly shift priorities makes his true intentions regarding cryptocurrency unclear. If Trump succeeds in bolstering the dollar’s position, he could easily move away from pro-Bitcoin rhetoric while retaining voter support.
At the same time, Alex Thorn, head of research at Galaxy Digital, notes that while the U.S. government is unlikely to purchase Bitcoin, there will likely be efforts to explore Bitcoin-related reserve policies. Thorn highlighted ongoing discussions about integrating Bitcoin into U.S. Treasury strategies but clarified that no large-scale acquisitions are planned in the near future.
