CryptoQuant CEO questions Trump’s Bitcoin reserve plan
While Trump’s Bitcoin promise has gained attention, Ju suggests the US would only consider it if its global dominance were seriously threatened.
CryptoQuant CEO Ki Young Ju has raised doubts about the US adopting a Bitcoin reserve under Donald Trump’s potential presidency. While Trump has promised to establish a national Bitcoin reserve to appeal to cryptocurrency supporters, Young Ju suggests the US would only consider such a move if its global economic dominance were seriously threatened. Currently, the US dollar maintains a stronghold in international trade and reserves, with 58% of global trade transactions conducted in dollars.
Bitcoin’s value recently soared to an all-time high of over $108,300, coinciding with post-election optimism. However, Trump’s newfound support for Bitcoin is seen by some as a strategic campaign move rather than a genuine commitment. During his previous term, Trump was sceptical of Bitcoin’s role in the financial system, and analysts suggest his stance could shift again depending on broader political and economic factors.
The US already leads global Bitcoin mining, producing nearly 38% of the world’s hash rate, and continues to be a stable safe haven for investors. Young Ju remains uncertain whether Trump’s advocacy for a Bitcoin reserve signals a move towards a ‘Bitcoin Standard’ or merely reflects calculated rhetoric to win votes. As geopolitical and economic shifts unfold, the future of US cryptocurrency policy under Trump remains unclear.
About author
DW Team
The GIP Digital Watch Observatory team, consisting of over 30 digital policy experts from around the world, excels in the fields of research and analysis on digital policy issues. The team is backed by the creative prowess of Creative Lab Diplo and the technical expertise of the Diplo tech team.