President Donald Trump recently addressed the digital assets summit in New York City, New York City, where he defined his ambitious aspirations to establish the United States as an important force in Crossed currency sectorWith Bitcoin (BTC) in the foreground.
Trump’s vision of increasing federal holdings in Bitcoin to the maximum extent
During his speech, Trump suggested creating a National stock From Bitcoin along with the legislative guidance aimed at strengthening a supportive environment for the encryption industry.
“We are ending the organizational warfare of the recent administration on encryption and bitcoin,” declared, indicating a flagrant exit from the organizational position of the Biden administration, which has taken a more cautious approach to encrypted currencies.
Trump also stressed the need for a strong legal framework, saying: “With the correct legal framework, large and small institutions will be liberated for investment, innovation and participation in one of the most exciting technological revolutions in modern history.”
According to For the Washington Times, one of the most prominent proposals from Trump’s speech was to create the Bitcoin Strategic Reserve, which is believed to allow the federal government to “increase the value of its property instead of selling it foolishly against a small part of its long -term value.”
Pay for stablecoins earns momentum in the US Senate
During his presence, Trump also repeat His support for Stablecoin legislation, stressing that such measures will enhance the dominance of the US dollar in the digital economy.
“I also called Congress to pass prominent legislation, which led to the creation of simple rules, the logical means of Stablecoins and the market structure,” President Trump said at the top of New York.
This legislative batch gained a traction last week when the Senate Banking Committee submitted a draft law from the two parties designed to organize issued from the private sector, STABLECOINS is supported by dollarsThat is, supporters argue can facilitate cheaper and faster transactions.
“You will unleash the explosion of economic growth, and with the dollar -backed Stablecoins, it will help expand the dominance of the US dollar,” Trump stressed, with a focus on long -term benefits of such innovations.
However, Trump’s obligations with Bitcoin and the broader encryption industry were not without Challenges. Despite the enthusiasm, the details of his strategic reserve proposal were not less than industry expectations, and the feelings in the market were fluctuating due to various external factors, including inflation.
This had a negative impact on Bitcoin, as it lost the largest encrypted currency up to 22 % of its value since January, when it reached the current rise (ATH) of $ 109,000 per code.
Bitcoin is currently trading of about $ 84,350, with a level of $ 80,000 as the most important direct support bottom, and holds the key to further price recovery or a new drop that BTC test can witness its next support at $ 76,000.
Distinctive image from CNBC, Chart from TradingView.com
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