How Donald Trump Could Push Bitcoin to New Heights
Uncertain Policies could Pave the way for Huge Bitcoin Boost
Whether they want to admit it or not, the gatekeepers of international currency do not like bitcoin.
They don’t like the fact that bitcoin is operated by a decentralized authority, which is clearly at odds with government-issued currencies. And this is not something monopolized by any one country or any one government, either.
But I get it.
I get why so many governments frown upon the idea of any type of currency being traded without their approval. Let’s face it: Bitcoin represents some very real competition to a system that has long been dictated by the whims of dishonest politicians and psychopathic central bankers.
And the reality is, anytime any government takes actions to crackdown on corruption and black money, they inevitably bolster support for decentralized currency options. It must make them crazy!
Take for instance the recent actions take by India’s Prime Minister Marendra Modi, who has withdrawn 500 and 1000 rupee notes from circulation.
What was done in an effort to curtail corruption has resulted in a huge boost for bitcoin in India.
Crypto Compare CEO Charles Hayter commented on this, saying …
“Bitcoin is a sanctuary in emerging markets where knee jerk policy reactions are commonplace - India's move on high value bank notes is just the latest in a string of poorly communicated & executed judgments.”
Hayter is right.
But to take it one step further, bitcoin is also a sanctuary in developed economies where government actions are proving to be more and more detrimental to the value of government-issued currencies. Uncertain and potentially dangerous actions on the part of high-level government officials could also boost the value of bitcoin.
Take this last election, for instance.
Love him or hate him, there’s no denying the fact that, at the moment, no one has any idea as to how Donald Trump will initiate his policy objectives. And if these objectives shake the faith of citizens who rely on U.S. dollars, bitcoin’s going to get a lot more love.
The same holds true for the potential disintegration of the EU.
Talk about the type of economic upheaval that could shoot bitcoin to the moon.
Of course, bitcoin isn’t without its own issues.
While there is a sense of safety amongst many bitcoin enthusiasts, to assume that your bitcoin will always be safe is not a good assumption to make. As well, I find it laughable that so many bitcoin owners think the government cannot access their bitcoin wallets.
Still, the rise of bitcoin illustrates the fact that there are a lot of folks on this planet who have little faith in government-issued currencies. Whether or not that enthusiasm will continue to grow remains to be seen.
But rest assured, with guys like Donald Trump, Vladimir Putin, and Xi Jinping pulling the strings, bitcoin is looking better and better.
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