Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnAISquareMore
Economist: Trumps national Bitcoin reserve plan has no real economic benefits

Economist: Trumps national Bitcoin reserve plan has no real economic benefits

Odaily2024/07/31 12:31
By:Odaily
Odaily News Former US President Donald Trump announced that he would establish a national Bitcoin reserve program if he is re-elected, but James Angel, an economist at Georgetown University who specializes in financial markets, said, I dont see any real economic benefits. The actual benefit is that Bitcoin will make Bitcoin enthusiasts vote for Trump. James Angel pointed out that the view that investing in Bitcoin can offset the loss of spending power caused by inflation depends on two unreliable assumptions: one is that the price of Bitcoin will rise; the other is that the government will be able to sell Bitcoin back to US dollars at some stage without causing a market crash. The US government can push up the price by buying Bitcoin, so that it looks like the government has made a lot of money, but once the government starts selling Bitcoin for profit, the price will fall again. (Wired)
0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

CandyBomb x DGAI: Trade to share 60,000 USDT

Bitget Announcement2026/09/03 13:00

CandyBomb x DEBIT: Trade to share 45,000 USDT

Bitget Announcement2026/09/01 13:00

Bitget Will Support the BounceBit (BB) Contract Swap

Bitget Announcement2026/09/01 08:00

Hold USDGO for dual perks, earn up to 30%+ APR!

Bitget Announcement2026/09/01 02:00