As Donald Trump is inaugurated as US president on January 20, 2025, debates are underway about his proposed pro-crypto policies and their impact on the US dollar's global standing. Experts, including Lee Bratcher from the Texas Blockchain Council, argue that Bitcoin, akin to gold, is not a direct competitor to the dollar. He asserts that the proliferation of stablecoins backed by dollars is essential for maintaining US economic dominance. Federal Reserve Chair Jerome Powell has stated that Bitcoin does not threaten dollar hegemony. Trump’s past comments suggest he may utilize Bitcoin to bolster the struggling dollar but not abandon it entirely. Adam O’Brien from Bitcoin Well shared skepticism about whether Trump would support de-dollarization. Meanwhile, analysts caution that Trump’s policies may hinge on the dollar's performance in the global economy, with some expecting he might retreat from his crypto promises if the dollar remains strong.

Source 🔗