If Donald Trump becomes president again, the project of a dollar functioning like a cryptocurrency will be abandoned. How can we explain such a position?
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With Donald Trump, at any moment, something is happening… The former President of the United States and new candidate never ceases to surprise us, for better or for worse some would say, and the thing is also in L’universeuniverse cryptocurrencies.
Donald turns out to be a famous Scrooge
So, you may not have known it, but there is a token (a currency based on Ethereum) officially linked to Donald Trump and which was launched in August 2023. It is called Maga, the abbreviation of “ Make America Great Again », the slogan of the entrepreneur converted into head of state. However, this Maga/Trump token gained 22% in value in one week, which some attribute to its recent victories in the Republican Party primaries. This currency was not created by the person concerned, but it appears that Donald Trump would have a large portfolio of it and would thus be in possession of the equivalent of 1.1 million dollars, which is not too much to a period when the costs oflawyerlawyer accumulate in relation to ongoing legal actions.
On a crusade against the digital dollar
More surprising, the facetious candidate with the blond locks recently spoke out against the project currently carried out by the government of Joe Biden to create a “ central bank digital currency “, the equivalent of an official digital dollar. Europe is currently pursuing such a path with the euro, and the same is true for China.
Let it be clear: if Trump is elected, the digital dollar will not see the light of day.
Such a position might seem strange, but it is not isolated. Ron de Santis, another Republican candidate who recently threw in the towel, himself described this digital dollar as “ woke » and suggested that it would be used to control people, an allegation that has been heard about China’s digital yen. Another Republican presidential candidate who also dropped out of the race earlier this year, Vivek Ramaswamy, also took a stand against a potential crypto-dollar.
If we stick to what Donald Trump said, the central bank digital dollar would give the Yankee government, “ the ability to take your argentargentand you wouldn’t even know it was missing “. In reality, this verse is surprising because central banks are independent of governments and already have the capacity to influence the destiny of a currency at will. And the specificity of cryptocurrencies is to have a blockchainblockchain (transaction register) freely consultable by anyone, and therefore be designed to resist manipulation.
Some will point out that this type of speech seems designed to seduce an electorate which, seen from this side of the Atlantic, seems very particular, and capable of being seduced by provocative formulas.
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