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Bitcoin and Dollar: CryptoQuant Founder Discusses Trump's Policy

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by Giorgi Kostiuk

a year ago

CryptoQuant founder Ki Young Ju expressed views on how President Donald Trump's Bitcoin policy might depend on the strength of the US economy and dollar.

Ki Young Ju's views on Bitcoin and US economy

Ki Young Ju argues that assets like gold and Bitcoin rise in price when investors perceive threats to US economic dominance. However, current confidence in the US economy and the US dollar's status as a safe haven currency make it unlikely for the Trump administration to adopt a Bitcoin strategy to protect dollar dominance.

Even before his inauguration, Trump consistently warned other world leaders of the power gap between the US and other nations. This rhetoric, combined with increased capital inflows to the dollar, could renew confidence in its supremacy.

Dollar's stability and its impact on cryptocurrencies

Ki Young Ju highlighted that many Koreans opt for the US dollar as a safe haven over gold or Bitcoin, especially as the Korean won weakens. This trend is also observed in emerging economies where individuals use dollar-stablecoins to store value.

Future of the financial system: the role of stablecoins

Paxos co-founder and CEO Charles Cascarilla noted that dollar-pegged stablecoins will become a cornerstone of the blockchain economy, improving its utility. In countries with hyperinflation, people tend to use the dollar as a store of value against rapidly depreciating local fiat currencies.

The discussion of Bitcoin policy and maintaining dollar dominance reflects complex processes in the global economy. The role of stablecoins continues to grow, potentially reshaping the global financial system.

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