Debt default is drawing closer and if there is no raising of debt ceiling yet from both parties, then both have two different decisions. A chaotic market ahead.
Bitcoin is now political. News flows by where DeSantis and RFK is into Bitcoin and have BTC to be their tool to in election. BTC is linked to popularity already and a presidential candidate who protcts BTC might win the BItcoiners.
Bitcoin is now political. News flows by where DeSantis and RFK is into Bitcoin and have BTC to be their tool to in election. BTC is linked to popularity already and a presidential candidate who protcts BTC might win the BItcoiners.
It seems the US will be raising the debt limit again. But they can't keep doing this forever. At some point, the US will default and chaos will spread all around the world. Bitcoin will ultimately prevail because of its deflationary and decentralized nature. Some US politicians have recognized BTC's potential to change our world for the better. The cryptocurrency's popularity is too hard to ignore these days. We could say politicians that are against BTC will see their demise after Election Day. Only time will tell us whenever the US will fully embrace the revolution or be left behind in the dust.
I'd be surprised if the country backs its currency (USD) with BTC sometime in the future. It would solve many problems in the long run. Either way, I'm certain a US default would have a positive effect over crypto market prices in the future. Short-term speaking, prices will decline because markets are tied to the USD. We should take the opportunity to grab as much coins as we can at a discount. Who knows if people will end up ditching Fiat currencies for good? Just my opinion
Bitcoin, with its whole decentralized and deflationary vibe, is a bit of a wild stallion - untamed, unpredictable, and sans any legit backing of a tangible asset. In an economic meltdown, it might not be the safe haven folks might hope for. Politically, sure, there are a few savvy folks who are embracing the 'Bit,' but it's still not exactly a trending topic at the voters' water cooler. Banking an election strategy on Bitcoin might be like pitching a sci-fi movie to a rom-com crowd.
Now, as for benching the dollar for the BTC? Well, it's a thought, but it's like trying to untangle a Gordian knot. Hitching the dollar to the BTC could be like attaching a bungee cord to the economy - lots of ups and downs, and a hefty dose of adrenaline. And let's not forget, the crypto scene is still fresh off the press, with its fair share of bugs to squash.