Could Trump use Bitcoin (BTC) to turn the United States around?

Donald Trump said in a speech that he will build the biggest economy in the history of the world. The former US president has indeed announced his candidacy for the 2024 presidential election. One might wonder if his approach will be in favor of the crypto sector. Having always shown a certain reluctance towards bitcoin (BTC), the crypto market was nevertheless in good health during his tenure. His re-election could breathe new life into this heavily suppressed market.

Building the greatest economy in history

Building the greatest economy in history is a recurring rhetoric from former President Donald Trump. He has previously claimed that he built the greatest economy in history during his tenure through lower taxes and high level regulations. He intends to restore the American economy destroyed by Biden by adopting an approach based on “freedom, individual responsibility and common sense”.

While the current president is being repressive towards cryptos, Trump’s ideology seems more liberal. He also launched his own collection of NFTs this year. Moreover, bitcoin (BTC) seemed to thrive during his presidency. During Trump’s four years in office, Bitcoin’s price rose over 2,600%, from $1,100 to $30,000.

His re-election could be positive for Bitcoin and the crypto industry

There is no denying the rocky relationship Trump has with cryptos, however. He already had the opportunity to declare in 2019 that he was not a fan of bitcoin (BTC) and other cryptos. Crypto assets have a very volatile and wind-based value, he explained. They can encourage illicit behavior, he added.

That doesn’t stop some analysts from thinking that if Trump wins, bitcoin might win too. After all, the crypto market was at its best during his presidency. Stock markets also rose. It remains to be seen whether the former president will favor bitcoin (BTC) in his campaign to build the largest economy in the history of the world.