• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

“Fickle Fallible” Donald Trump Will Make Bitcoin Global Currency: Lopp

Davit Babayan by Davit Babayan
2 years ago
in Bitcoin, Technical analysis
Reading Time: 3min read
bitcoin, donald trump

"Fickle Fallible" Donald Trump Will Make Bitcoin Global Currency: Lopp

Advertisement
Listen to Article

Bitcoin does not need to do anything to become a global reserve currency until Mr. Donald Trump is in command at the White House.

That is what Jameson Lopp of CASA said on Friday in response to the President Trump’s call to manipulate the value of the US dollar. The chief technology officer stated that financial systems are inevitably failing under the political influence of “fickle fallible humans.” And as they keep eroding the system from the inside, people would be left with no choice but to look for financial backups that are entirely independent of their decisions.

“There’s one perspective that Bitcoin need not do anything else [in order to] become a global reserve currency: all it needs to do is nothing as it watches other systems inevitably fail under the follies of fickle fallible humans,” Lopp said.

There's one perspective that Bitcoin need not do anything else in order to become a global reserve currency: all it needs to do is nothing as it watches other systems inevitably fail under the follies of fickle fallible humans. https://t.co/B2xCE5t0ME

— Jameson Lopp (@lopp) July 3, 2019

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Toying with Greenback

Trump on Wednesday accused the Europe and China of playing a “big currency manipulation game.” He suggested that the United States should match up to them, a remark many analysts assumed was the president’s call to weaken the dollar. The greenback reacted negatively to the statement. On the day of the tweet, the US dollar index, which measures it against a basket of major currencies, slipped into the red.

Mark McCormick, a forex strategist at TD Securities, believes that Trump is saying what is going to happen thanks to the Federal Reserve’s likelihood of cutting interest rates.

“It’s pretty clear the currency is definitely a focus … you have some new Fed nominees which lean on the dovish side, you have the Fed ready to cut rates, you have a slowing U.S. economy,” he told CNBC. “There’s a period here where the currency is going to weaken on these things.”

Anthony Doyle of Fidelity International, meanwhile, believes that weakening the dollar is the Federal Reserve’s “only game” if it wants to protect the US economy. He said:

“Generating inflationary pressures, generating competitiveness through a lower currency is one tool that central banks can use to support their economies.”

Bitcoin Bulls

The statements appeared to validate the cases against the centralized economies made by the bitcoin community. Over the last decade, the fan club has projected the cryptocurrency as the marriage of Gold’s scarcity and internet money’s speed. Many of them, like Lopp, still believe that bitcoin, a non-sovereign entity, is on its path to becoming a global reserve asset, much like gold.

Market analyst Alex Krüger, for instance, places “macroeconomic narratives” such as a weaker dollar among the catalysts that could propel the bitcoin adoption higher. Similar support of a bullish bitcoin comes from economist Tyler Cowen who recently flipped his negative views in favor of the cryptocurrency. He wrote in his Bloomberg opinion post:

“One final possible explanation for the resurgence of Bitcoin: Populism is spreading, the Middle East is not calming down, and the world is not solving its geopolitical problems. To the extent Bitcoin is a general hedge, much like gold, the conditions for its value seem to be favoring a high future demand for portfolio insurance. Even a small percentage of global wealth put into Bitcoin can sustain a high Bitcoin price.”

It seems crypto is not just a passing fancy: https://t.co/hO8hmoPeRc

— tylercowen (@tylercowen) June 28, 2019

Nevertheless, there are also many who do not believe in any upside projections confirmed by the bitcoin bulls. Renowned gold bull Peter Schiff is one among them. Though a long time critic of the Federal Reserve’s dovish policies, Schiff believes the solution to the global finance problem lies in gold, not bitcoin.

“How low would Bitcoin’s price have to fall for FOMO to become FOLE; “fear of losing everything,” causing hodlers to finally throw in the towel? Or are hodlers so convinced they are right, that they will bravely go down with the ship, and ride Bitcoin all the way down to zero,” he said.

Tags: bitcoinDonald Trump
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Davit Babayan

Davit Babayan

Davit Babayan is an Armenia-based expat balancing the academic life of a software design engineer with the experiences of a financial technology journalist. He aspires to be a full-time columnist and wants to write a book that would be called, "A Homeless Who Found Bitcoin."

Related Posts

Ethereum

Ethereum is About to Post a Massively Bullish Signal as Bulls Take Charge

3 hours ago
Ethereum

Ethereum Starts Fresh Increase, Why ETH Could Surge To $1,500

16 hours ago
Bitcoin

Bitcoin Facing Uphill Task, Why BTC Could Drop To $30K Again

18 hours ago
Ethereum

Here’s the Key Demand Zone Ethereum Might Test Before Surging Higher

1 day ago
Ethereum

Ethereum Could See an Explosive Move Higher Following Massive 20% Surge

2 days ago
bitcoin bear trend adx

Bear Trend Begins To Take Hold In Bitcoin For First Time Since October 2020

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 2021

LABS Group Announced Strategic Partnership with Centifuge to Provide DeFi Collateralized Property Backed Lending

January 22, 2021

Jump-starting Crypto Adoption: Aurix IEO Scheduled for January 21st on ExMarkets!

January 22, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.