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Make Bitcoin great again - what Donald Trump's backing of crypto could mean for the industry
On July 27, the former US president and Republican nominee for the upcoming election, Donald Trump, headlined the biggest Bitcoin conference of the year in Nashville. In his speech, Trump claimed he will make the US the "crypto capital of the planet and the Bitcoin superpower of the world" if returned to the White House after November's election.
Bitcoin Price Tanks Hours After Trump Floats Using it as US Reserve Asset
Bitcoin prices plummeted after former President Donald Trump suggested that the cryptocurrency could be used to pay off the country's $35 trillion national debt.
Bitcoin dropped 12 percent in the past 24 hours and ether plunged by 21 percent in the same time period. The price of bitcoin has been dropping since Friday, and briefly dropped to below $50,000 on Monday. This was the first time it had dropped below these levels since February.
In recent weeks Trump has been attempting to position himself firmly as pro-crypto. Speaking at a bitcoin conference in Nashville, Tennessee on July 27, the Republican presidential candidate unveiled his plans to make the U.S. the "crypto capital of the planet" if he is elected for a second term.
He also spoke about the U.S. creating a "strategic national bitcoin reserve."
(Score: 3, Touché) by aim on Wednesday August 07, @08:11AM
Is it any wonder that the scammer-in-chief would hail (yet another) scam aka ponzi scheme? Also, bitcoin in particular is very useful to his puppet master to circumvent sanctions. So, par for the course.