Trump's Vision For U.S. As Global Cryptocurrency Hub Faces Skepticism

According to Odaily, President-elect Donald Trump has pledged to transform the United States into a global hub for cryptocurrency, even expressing support for the idea of establishing a strategic national Bitcoin reserve. However, industry experts are questioning the feasibility of this latter goal. TD Cowen analyst Jaret Seiberg highlighted in a report that the concept of a Bitcoin reserve conflicts with Trump's firm stance on maintaining the U.S. dollar as the world's key currency. Seiberg noted, "Trump is likely to continue promoting the idea of a Bitcoin reserve on social media or mention it in speeches, but this is not the same as committing the significant political capital required to achieve this goal." The discussion around a national Bitcoin reserve raises questions about the potential impact on the U.S. economy and its currency's global standing. While the idea of embracing cryptocurrency aligns with the growing digital economy, the practical implementation of such a reserve remains uncertain. Industry observers are keenly watching how these proposals will unfold and what implications they might have for both the cryptocurrency market and traditional financial systems.