Economist: Trumps national Bitcoin reserve plan has no real economic benefits
Odaily2024/07/31 12:31
By:Odaily
Odaily News Former US President Donald Trump announced that he would establish a national Bitcoin reserve program if he is re-elected, but James Angel, an economist at Georgetown University who specializes in financial markets, said, I dont see any real economic benefits. The actual benefit is that Bitcoin will make Bitcoin enthusiasts vote for Trump. James Angel pointed out that the view that investing in Bitcoin can offset the loss of spending power caused by inflation depends on two unreliable assumptions: one is that the price of Bitcoin will rise; the other is that the government will be able to sell Bitcoin back to US dollars at some stage without causing a market crash. The US government can push up the price by buying Bitcoin, so that it looks like the government has made a lot of money, but once the government starts selling Bitcoin for profit, the price will fall again. (Wired)
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!
You may also like
Bitwise Expands into Ethereum Staking with New Acquisition
Cryptodnes•2024/11/15 00:22
Litecoin Redefines Itself as Memecoin, Stirring Up the Crypto Space
Cryptodnes•2024/11/15 00:22
IBIT had a net inflow of US$125.2 million yesterday
Cointime•2024/11/15 00:11
ARKB had a net outflow of $159.7 million yesterday
Cointime•2024/11/15 00:11
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$88,013.25
-2.42%
Ethereum
ETH
$3,074.25
-3.65%
Tether USDt
USDT
$1
-0.05%
Solana
SOL
$211.14
-1.28%
BNB
BNB
$624.76
+1.45%
Dogecoin
DOGE
$0.3715
-5.34%
XRP
XRP
$0.7959
+16.14%
USDC
USDC
$0.9999
+0.03%
Cardano
ADA
$0.5867
+1.87%
TRON
TRX
$0.1772
-0.64%
Bitget pre-market
Buy or sell coins before they are listed, including ZRC, MAJOR, OGC, MEMEFI, and more.
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new Bitgetters!
Sign up now