Thu, May 09, 2024 at 03:18

• 

  Kang-hoon

  • Good day, Annie.

  • Today's news is about former President Donald Trump's recent stance on Bitcoin and cryptocurrency.

  • He expressed his support for the crypto industry at an event for Trump NFT holders at his Mar-a-Lago resort.

  • 
• Annie

  • Oh, really?😮 I remember him being quite critical of cryptocurrencies in the past.

  
• 

  Kang-hoon

  • Yes, you're correct.

  • During his presidency, Trump criticized digital assets for their potential to facilitate unlawful behavior.

  • 

  • He stated that he was not a fan of Bitcoin and other cryptocurrencies, which he deemed as not money and whose value is highly volatile and based on thin air.

  • 
• Annie

  • Then what made him change his mind?🤔

  
• ADward

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• 

  Kang-hoon

  • Trump accused the current administration of being against an industry that it doesn't understand.

  • He claimed that regulatory hostility is driving crypto firms out of the US, which he wants to stop.

• Annie

  • So, he's now advocating for the crypto industry?

  • That's a big shift!😲

  
• 

  Kang-hoon

  • Indeed, it is.

  • Trump also mentioned that he will accept donations to his campaign in Bitcoin and other cryptocurrencies.

  • 
• Annie

  • Wow!

  • That's quite a turnaround.

  • So, what does this mean for the crypto market?📈

  
• 

  Kang-hoon

  • Trump's support could potentially influence the perception of cryptocurrencies among his followers and possibly lead to increased adoption.

  • However, it's important to note that the crypto market is influenced by a variety of factors and this is just one of them.

• Annie

  • I see.

  • So, is this news good or bad for the market?🤷‍♀️

  
• 

  Kang-hoon

  • In the short term, this news could be seen as positive for the crypto market.

  • Trump's endorsement might encourage more people to invest in cryptocurrencies.

  • However, it's essential to remember that investing in cryptocurrencies comes with its own set of risks and investors should always do their due diligence.

  • Upon comprehensive consideration, this news is perceived as a 😍Bullish.