I have to say that Trump is still very reliable~

During his campaign, Trump made these promises about encryption:

  • Fire SEC Commissioner Gary Gensler.

    Fired the current SEC chairman on his first day in office

  • Introduce a national strategic Bitcoin reserve.

    Establishing a national strategic reserve of Bitcoin

  • Appoint a Bitcoin and crypto presidential council to design regulatory reforms.

    Establishing a Presidential Commission on Bitcoin and Crypto to Involve Regulatory Reform

  • Ensure that Bitcoin continues to be mined in the U.S.

    Ensuring Bitcoin Mining in the United States

  • Make the U.S. the “Crypto Capital” of the world.

    Making America the Crypto Capital of the World

  • Remove capital gains taxes on Bitcoin transactions.

    Eliminate capital gains tax on Bitcoin transactions

  • Ensure that the U.S. does not introduce a CBDC.

    Guarantee that the US will not issue a CBDC

Now, SEC Chairman Gary Gensler has officially announced that he will resign on the first day of Trump's inauguration.

The head of the Presidential Crypto Advisory Committee was also appointed yesterday. Although he is an athlete, he is a young person born after 1995 and should be more familiar with crypto than the old stubborn people in the traditional financial industry.

The mining cost in the United States is indeed very low now. The electricity cost of our mining farm in Arkansas is only 5 cents.

Now that the United States has friendly policies, the whole world is watching the United States, and cryptocurrencies are all settled in US dollar stablecoins. As long as the United States does not act recklessly, it will naturally become the capital of crypto.

Feel sorry for the "former crypto capital"

The US CBDC plan has also been halted, and the stablecoin sector has been completely handed over to the market.

Trump currently has two big moves left to play:

The first is to establish a strategic reserve of Bitcoin;

The second is to cancel capital gains tax on Bitcoin transactions.

The first Bitcoin strategy is actually already underway, but it won’t happen so quickly. In addition to the support of the president, it also requires approval from both the House and Senate.

So the recent statement by Federal Reserve Chairman Powell against reserve Bitcoin actually gave everyone enough opportunities to get on board.

Because the Bitcoin strategic reserve is the most concerned Trump campaign promise in the crypto community, I believe he will not let everyone down on this point~

Another promise that has not yet been fulfilled is the elimination of capital gains tax on Bitcoin transactions.

If this can be achieved, it would be a nuclear-level benefit, because for large investors in the United States, the capital gains tax on short-term cryptocurrency speculation is as high as 37%!

In his last term, Trump reduced the US corporate income tax from 35% to 21%. The whole process brought about a long bull market in the US stock market for several consecutive years.

I believe that the capital gains tax on Bitcoin can also have the same effect!