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Trump's pledge to establish Bitcoin as the US' strategic reserve, if implemented, could significantly boost public awareness and adoption of cryptocurrency. This would likely benefit existing holders, as you noted. However, the move could also have far-reaching consequences for the US dollar's dominance.
By prioritizing Bitcoin, Trump may inadvertently accelerate the dollar's decline and make it easier for nations like those in the BRICS alliance to further de-dollarize their economies. This could ultimately position Bitcoin as a direct competitor to the greenback.
On the surface, it seems counterintuitive for Trump to pursue a policy that might weaken the dollar, as presidents typically aim to strengthen their country's currency. However, Trump's focus on making America great again could lead him to prioritize domestic economic interests over global stability.