Trump promises to make the U.S. crypto capital of the world
Trump vows to make the U.S. the global hub for cryptocurrency and AI at Davos.
At the World Economic Forum in Davos, US President Donald Trump vowed to establish the United States as the global capital for cryptocurrency and artificial intelligence (AI), reinforcing his administration’s pro-crypto stance.
This marks a significant shift from the regulatory challenges faced under the Biden administration, reports CoinGape.
Trump’s Pro-Crypto Agenda
President Trump reiterated his commitment to creating a crypto-friendly regulatory environment and proposed immediate interest rate cuts, a move seen as bullish for Bitcoin and the broader cryptocurrency market. His remarks align with his administration’s ongoing efforts to support the industry, including the proposed Strategic Bitcoin Reserve, which would mandate the US to acquire 1 million BTC over five years under the Bitcoin Act spearheaded by Senator Cynthia Lummis.
Despite omitting direct mentions of crypto in his inaugural speech, Trump has underscored the sector’s importance through subsequent actions and endorsements. Senator Lummis, newly appointed Chair of the Digital Assets Subcommittee, reaffirmed this commitment, signaling Congressional alignment on fostering crypto growth.
Market Reactions
Trump’s statements have bolstered optimism within the crypto community: • Interest Rate Cuts: The potential for further cuts is expected to drive capital into crypto markets, particularly Bitcoin, as lower rates reduce the appeal of traditional savings and bonds. • Strategic Bitcoin Reserve: If implemented, the reserve could position the US as a leader in digital asset adoption.
Criticism from Peter Schiff
Economist and Bitcoin critic Peter Schiff took the opportunity to question Trump’s crypto narrative, emphasizing the president’s lack of distinction between Bitcoin and his meme coin, TRUMP. Schiff speculated that Trump’s references might favor asset-backed cryptocurrencies over Bitcoin, which he deems “valueless.”
World Liberty Financial’s Crypto Investments
Despite Schiff’s critique, Trump’s World Liberty Financial has actively invested in cryptocurrencies, including Bitcoin, Ethereum, Tron, and Chainlink. These moves highlight a broader strategic vision aligning with the administration’s pro-crypto policies.
Recently we wrote, that the crypto community has shown significant support for President Donald Trump, making it unsurprising that many crypto investors are part of his administration.
