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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/what-role-will-bitcoin-play" data-wpel-link="internal" rel="noopener noreferrer nofollow">What Role Will Bitcoin Play?</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/peter-brandt-predicts-bitcoin-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) recently experienced a dramatic drop, plummeting to $65,862. This decline, coupled with short-term closures below $68,000, has negatively impacted investor confidence and motivation. Luke Gromen, a seasoned macro investor, offers his perspective on this trend and its broader implications for the US economy.</p>
<h2 id="why-bitcoin-is-essential-for-the-us-economy">Why Bitcoin is Essential for the US Economy?</h2>
<p style="text-align: justify">Gromen emphasizes the necessity of Bitcoin for the United States, particularly noting the economic implications of the dollar’s dominance. He argues that while being the “Saudi Arabia of the dollar” benefits the US in the short term, it also results in economic challenges such as wealth inequality and political instability in the long run. According to Gromen, this financialization and deindustrialization pose significant risks to national security.</p>
<h2 id="how-could-bitcoin-serve-as-a-solution">How Could Bitcoin Serve as a Solution?</h2>
<p style="text-align: justify">Gromen posits that adopting Bitcoin as a reserve asset, as hinted by former President Trump, could simplify economic challenges for the US. By replacing Treasury bonds with a neutral reserve asset like gold or Bitcoin, the US could mitigate the so-called “resource curse.” This shift would require a significant rise in the price of gold or Bitcoin to address the demands of the US trade and current account deficits.</p>
<h2 id="actionable-insights">Actionable Insights</h2>
<ul>
 <li>Monitor Bitcoin’s <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a> trends closely, especially during political announcements.</li>
 <li>Consider the potential impact of Bitcoin replacing Treasury bonds as a reserve asset.</li>
 <li>Stay updated on political figures’ stances regarding cryptocurrency, as it could influence market movements.</li>
</ul>
<p style="text-align: justify">If this strategy gains political traction, Bitcoin may experience significant growth, driven by narratives of solving economic issues. However, notable political figures like Democratic candidate Harris have yet to endorse a crypto-friendly stance, leaving the market’s <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future direction</a> uncertain.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/what-role-will-bitcoin-play" data-wpel-link="internal" rel="noopener noreferrer nofollow">What Role Will Bitcoin Play?</a></h5>

What Role Will Bitcoin Play?

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Alte articole publicate pe 30 iul. 2024

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