Cryptocurrency

Donald Trump

World

Liberty

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/donald-trump-shifts-his-stance-on-bitcoin-and-embraces-cryptocurrency/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Donald Trump Shifts His Stance on Bitcoin and Embraces Cryptocurrency</a><br></p>
<p style="text-align: justify">Donald Trump’s shift in attitude towards Bitcoin is noteworthy. Previously labeling Bitcoin as a “fraud” due to its volatility and perceived threat to the U.S. dollar, Trump has taken a surprising turn by adopting a crypto-friendly stance in his 2024 presidential campaign. Recently, he described Bitcoin as “an extraordinary technology” and announced that he has started engaging in Bitcoin transactions.</p>
<h2 style="text-align: justify" id="embracing-cryptocurrency-and-market-reactions">Embracing Cryptocurrency and Market Reactions</h2>
<p style="text-align: justify">This change is not merely rhetorical. In 2022, Trump made his first move into digital assets by launching an <a href="https://en.coin-turk.com/memecoin-hype-and-market-decline-contribute-to-nft-sales-drop/" data-wpel-link="internal" rel="noopener noreferrer nofollow">NFT</a> collection. Additionally, public records indicate that Trump holds a significant amount of Bitcoin. Market experts suggest that this support could signal an upward movement in Bitcoin prices. Some speculate that if Trump is re-elected, Bitcoin might reach record highs.</p>
<h2 style="text-align: justify" id="failed-crypto-project-world-liberty-financial-token">Failed Crypto Project: World Liberty Financial Token</h2>
<p style="text-align: justify">Trump also attempted to launch his own <a href="https://en.coin-turk.com/crypto-market-sees-mixed-session-with-notable-altcoin-movements/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a>. However, the World Liberty Financial (WLFI) token project did not succeed. The token was only available to accredited U.S. investors and could not be traded freely, deterring potential buyers. Moreover, the project’s website experienced technical issues, leading to sales falling short of expectations.</p>
<h2 style="text-align: justify" id="surge-in-crypto-etfs">Surge in Crypto ETFs</h2>
<p style="text-align: justify">Meanwhile, interest in cryptocurrency ETFs has reached record levels. Major assets such as Bitcoin, Solana , and Ethereum saw an 11% increase within just a week. Over $600 million was invested in crypto ETFs during this period, with total managed assets exceeding $60 billion. BlackRock’s Bitcoin ETF has garnered strong demand, showing notable growth.</p>
<p style="text-align: justify">Additionally, the Australian firm Monochrome introduced a new ETF that provides cash-settled and physically-backed Ethereum transactions. These developments illustrate a greater integration of crypto assets with traditional financial products, allowing investors to engage with cryptocurrencies through more familiar platforms.</p>
<h2 style="text-align: justify" id="current-status-of-bitcoin">Current Status of Bitcoin</h2>
<p style="text-align: justify">Currently, Bitcoin is trading above $67,000. Technical analysts suggest a potential upward movement is on the horizon. Market bulls are building momentum, and some indicators suggest an imminent upward movement. If the support level of $62,500 is broken and the resistance level of $68,000 is surpassed, Bitcoin could potentially test $70,000.</p>
<p style="text-align: justify">The 14-day RSI data indicates that Bitcoin could experience upward movement. Factors such as increased institutional buying and Bitcoin’s resurgence as a hedge against inflation may support price increases. If Bitcoin surpasses $68,000, a stronger upward trend may occur.</p>
<p style="text-align: justify">This volatility in the <a href="https://en.coin-turk.com/bitcoin-price-drop-and-crypto-market-predictions-whats-next/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency market</a> reveals that digital assets are attracting attention not only from investors but also from politicians and large institutions. Continued interest could lead to broader acceptance of cryptocurrencies in the financial world.</p>
<p>The post <a href="https://en.coin-turk.com/donald-trump-shifts-his-stance-on-bitcoin-and-embraces-cryptocurrency/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Donald Trump Shifts His Stance on Bitcoin and Embraces Cryptocurrency</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Donald Trump Shifts His Stance on Bitcoin and Embraces Cryptocurrency

Table of Contents

COINTURK NEWS

Other articles published on Oct 18, 2024

After Paxos Stripe Eyes Bridge’s Stablecoin Payment Network Through Acquisition

'Solana Killer' Aptos (APT) Celebrates 1.7 Billion Transaction Milestone

Odds of Ethereum price rally to $3K increase, but a few red flags remain

OKX Lists Banana Gun Token for Trading Opportunities

Grayscale Files to Convert Digital Large Cap Fund into Mixed Crypto ETF

How Onchain Consumer Apps are Disrupting Web2: A Deep Dive into Meme Culture and the Future of Us...

Join our free newsletter for daily crypto updates!