Trump declares US as Bitcoin superpower in digital asset summit speech

- Trump Declares Bitcoin Superpower - Bitcoin Price Surges 11% [Unblock Media] Former U.S. President Donald Trump recently declared at a digital asset summit his intention to make America a "Bitcoin superpower and the capital of cryptocurrency." Trump's statement is interpreted as strong support for the cryptocurrency market, especially Bitcoin, drawing significant attention from market participants. Trump’s pro-cryptocurrency comments have historically had a strong impact on the market. In July 2024, at the annual Bitcoin conference in Nashville, Tennessee, Trump mentioned that the U.S. should hold Bitcoin as a strategic asset. Following this announcement, the price of Bitcoin surged by 11%, reaching $94,110. Subsequently, as the likelihood of his re-election increased in January 2025, Bitcoin's price surpassed $75,000, setting a new all-time high. These cases demonstrate that political statements can directly influence Bitcoin prices. Trump also urged Congress to swiftly pass legislation related to stablecoins during his speech. Stablecoins are cryptocurrencies linked to legal currencies like the dollar, characterized by low price volatility, and are used in various sectors such as DeFi and international remittances. For example, Tether (USDT) and USD Coin (USDC) are designed to maintain a value of $1, reducing market uncertainty and providing transactional stability. With legal foundations in place, trust from institutional and general investors is expected to increase. Trump criticized the traditional financial system for discriminating against the cryptocurrency industry and harshly rebuked what he called 'Operation Chokepoint 2.0.' This term refers to instances where U.S. financial authorities exert informal pressure on banks to limit transactions with cryptocurrency firms. The consecutive closures of major banks tied to cryptocurrencies, such as Silvergate, Signature, and Silicon Valley Bank in early 2023, are analyzed as effects of such regulations. Figures like Elon Musk and Marc Andreessen have also publicly criticized banking discrimination against cryptocurrency firms. Criticism of these regulations, coupled with distrust in the centralized financial system, emphasizes the legitimacy and necessity of decentralized Bitcoin. Political support, regulatory clarification, and highlighting financial accessibility issues are increasing the likelihood of Bitcoin gradually being integrated into mainstream financial systems. Consequently, Bitcoin's market share is expected to expand, and the network effect will likely strengthen. The market believes this trend could justify Bitcoin’s superiority over altcoins. Trump's comments could serve as a catalyst for structural changes in the cryptocurrency market centered on Bitcoin, beyond a mere political message.