Ki Young Ju Questions Trump’s Stance on Bitcoin Adoption
Ki Young Ju, CEO of CryptoQuant, recently shared his insights on President-elect Donald Trump’s potential Bitcoin policies. He believes that Trump’s position on Bitcoin will hinge on the perception of the US economy and the US dollar’s strength in the eyes of the global community.
Comparing Bitcoin to Gold
In a recent post on his official X account, Ki Young Ju drew parallels between the historical trend of gold prices rising when the US economy faced threats and the potential for Bitcoin to replace gold as a standard. While gold was once promoted as the true money by Peter Schiff in the late 1990s, Bitcoin supporters now view the cryptocurrency as a viable alternative. Ki Young Ju supports the concept of a Bitcoin Standard but remains uncertain whether the US would embrace it, suggesting that a significant economic threat would be necessary to prompt such a shift.
Potential Trump Policy Shifts
Ki Young Ju speculates that the US might consider purchasing Bitcoin for economic reasons, rather than the ideological motivations typically associated with Bitcoin advocates. However, he doubts that the US would adopt Bitcoin to defend the dollar or transition to a Bitcoin standard, given the continued influx of global capital into the US, which bolsters the dollar’s strength. Despite Bitcoin’s rising popularity, many Koreans still prefer holding dollars over Bitcoin or gold due to the depreciation of the Korean won, indicating ongoing confidence in the US dollar.
An Uncertain Future
Ki Young Ju questions whether Trump will maintain his current stance on Bitcoin once in office, suggesting that Trump’s support for Bitcoin could shift without warning. Whether Trump’s discussions about Bitcoin reflect genuine interest in a Bitcoin Standard or merely a strategic move to gain voter support remains unclear.
In conclusion, Ki Young Ju’s reflections highlight the complex interplay between Bitcoin, gold, the US dollar, and Trump’s potential policies. As the global economy continues to evolve, the future of Bitcoin adoption in the US remains uncertain.
