The POTUS Is Using His Business & Political Connection To Promote BTC & Other Crypto Assets.

The crypto ride has been nothing short of wild. The business world devolved into utter chaos after Trump’s sudden announcement of a significant tariff charge on Canada, China, and Mexico. As a result, mass-scale panic ensued, resulting in one of the largest liquidation events of recent history, amounting to $10 billion. This mass-scale liquidation results from the general fear of the ‘inevitable collapse’ of financial institutions.  

What is astonishing is that all of this happened in a few days. Last year, in December, BTC managed to soar the highest, with prices reaching $100,000 per BTC. This was partially due to the receptive market status and Coinbase CEO’s prediction that BTC could top or go head to head with Gold’s 18 trillion market capitalization. However, the news of tariffs came, and the market crashed. 

However, the US president promised that he and his cabinet would try to formulate policies that would be more crypto-friendly. Sources speculate that US sovereign funds can be used to buy BTC. This can be a plausible speculation as Trump Media and Technology Group is well underway in launching a BTC ETF. This came at a time when Trump’s son, Eric, predicts that the market will be bullish.  

Is The US Backing BTC Now? 

In a post shared by Eric Trump on his X handle, the young expert wrote, “Feels like a great time to enter Bitcoin.” Eric tagged the World Liberty Financial decentralized finance or DeFi project. Eric is spearheading the project with his brother Don Jr. The World Liberty Financial is primarily a crypto exchange platform that is seen buying up crypto assets.  

Meanwhile, the Trump Media and Technology Group, or TMTG, has also announced that it wants to expand into the crypto world. In other words, it wants to create its own BTC ETF platforms. Sources suggest that the platform is all set to compete with the likes of Blackrock, Fidelity, and other names in the industry.  

TMTG Chief Devin Nunes said, “We aim to give investors a means to invest in American energy, manufacturing, and other firms that provide a competitive alternative to the woke funds and debanking problems that you find throughout the market… We’re exploring a range of ways to differentiate our products, including strategies related to bitcoin.” 

Therefore, the US government might be gearing up for a broader adoption of BTC, and Trump is ensuring that he uses his business and political influence to make it happen. Follow us for more crypto news.