Ki Young Ju discusses Trump potential Bitcoin policies and whether the US will adopt a Bitcoin standard in the future.
Ki Young Ju, CEO of CryptoQuant, recently shared his thoughts on President-elect Donald Trump’s potential Bitcoin policies. According to him, the stance of Trump on Bitcoin, would depend on what the global community thinks of the strength of both the US economy and the US dollar.
Throughout history when the US perceived that the power of its economic muscle was threatened gold prices would go up. They would also talk about going back to the gold standard. Ki Young Ju expressed this idea on his official X account, comparing gold to Bitcoin. Now Bitcoin is positioned to be a replacement for gold.
Peter Schiff promoted gold as the true money in the late 1990s. Today, Bitcoin supporters believe Bitcoin is an alternative to gold. Ki Young Ju agrees with the idea of the Bitcoin Standard, but he is not sure if the U.S. would adopt it. He thinks the U.S. would have to confront a real threat to its economy for this to occur. Overall, the market is still trusting the strength of the U.S. dollar.
Ki Young Ju Predicts Trump Could Change His Bitcoin Position
In Ki Young Ju’s opinion, the U.S. could purchase Bitcoin for ‘economic’ reasons, but not for those reasons that Bitcoin advocates usually believe. The idea that the U.S. would buy Bitcoin as a defense of the dollar or convert to a Bitcoin standard seems unlikely. Even as Bitcoin’s popularity has flourished, global capital is still washing into the U.S. and keeping the dollar strong.
Many Koreans seem to be holding dollars instead of Bitcoin or gold, due to the weakening Korean won, said Ki Young Ju. This means there is still a high confidence in the U.S. dollar.
Trump would be able to strengthen the dollar if he actually can show economic strength in the U.S. But Ki Young Ju wonders whether Trump will maintain his support of Bitcoin when he becomes president. Without losing support, Trump could change his views on Bitcoin. Ultimately, whether Trump’s talk of Bitcoin is a genuine step toward a Bitcoin Standard or just a way of winning voters is undecided.
