Peter Schiff, a U.S. economist and gold advocate, has attributed the lacklustre performance of gold mining companies to the rising inflation rate, which contrasts with a largely static gold price. Schiff maintains that the U.S. inflation rate would have been even higher if the U.S. Federal Reserve had not increased interest rates. The economist also […]
Bitcoin News
Donald Trump Acknowledges Bitcoin’s Popularity — Says BTC Has Taken on ‘a Life of Its Own’ and ‘I Can Live With It’
U.S. presidential candidate and former President Donald Trump has acknowledged the growing popularity of bitcoin, stating that “a lot of people are doing it” and the crypto has taken on “a life of its own.” Trump further shared: “More and more I’m seeing people wanting to pay bitcoin and you’re seeing something that’s interesting so […]
Bitcoin News
Polygon-Based Prediction Market Shows Michelle Obama Rising to Third in 2024 Election Odds, Challenging Trump and Biden
24 days ago, Bitcoin.com News delved into Polymarket’s decentralized prediction market odds for the 2024 U.S. elections, with former President Donald Trump at the forefront, closely trailed by the sitting President Joe Biden, and the ex-U.S. Ambassador to the U.N., Nikki Haley. Since that report, the dynamics have shifted significantly, with Michelle Obama, former President […]
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RFK Jr. and Donald Trump Both Vow to Stop the Fed From Issuing US Central Bank Digital Currency if Elected
U.S. presidential candidates Robert F. Kennedy Jr. (RFK Jr.) and Donald Trump have independently promised the American people to stop the creation of a central bank digital currency (CBDC) in the U.S. if elected President. “I will protect Americans from government tyranny,” Trump said, adding that a CBDC “would be a dangerous threat to freedom.” Kennedy similarly warned that a digital dollar “will allow the government to surveil all our private financial affairs.”
Donald Trump and Robert F. Kennedy Jr. Both Vow to Stop CBDC Creation if Elected
U.S. presidential candidates Donald Trump and Robert F. Kennedy Jr. (RFK Jr.) have independently voiced strong opposition to the creation of a central bank digital currency (CBDC) in the U.S.
Kennedy posted on social media platform X last week that he has been discussing financial freedom in the 21st century with Dr. Joseph Mercola, an osteopathic physician and best-selling author. The presidential hopeful promised: “As president, I will end the efforts to move toward a CBDC.”
Dr. Joseph @Mercola and I discuss financial freedom in the 21st century. As president, I will end the efforts to move toward a CBDC. #Kennedy24 pic.twitter.com/gao3D1HAeM
— Robert F. Kennedy Jr (@RobertKennedyJr) January 24, 2024
In October last year, Kennedy promised that if he is elected President of the United States, he will “make sure that bitcoin is protected, that people can keep their own wallets, that the current White House war on bitcoin will be over, that transactions will be protected and encouraged.”
RFK Jr. also previously stated that “Cryptocurrencies like bitcoin give the public an escape route from the splatter zone when this bubble invariably bursts,” emphasizing: “We should be wary since CBDCs are the ultimate mechanisms for social surveillance and control.” He cautioned: “While cash transactions are anonymous, a CBDC will allow the government to surveil all our private financial affairs. The central bank will have the power to enforce dollar limits on our transactions restricting where you can send money, where you can spend it, and when money expires.”
Similarly, former U.S. President Donald Trump made a promise to the American people during a recent rally that as President, he will never allow the creation of a digital dollar. “I will protect Americans from government tyranny,” he exclaimed, adding that a central bank digital currency would give the federal government “absolute control over your money.” Trump stressed:
This would be a dangerous threat to freedom, and I will stop it from coming to America.
The former U.S. president credited Vivek Ramaswamy for bringing the danger of CBDCs to his attention. Ramaswamy, a former presidential candidate, recently exited the race and threw his support behind Trump. Following Trump’s CBDC statement, Rep. Tom Emmer (R-MN) said he looks forward to working with Trump to stop the Fed from creating a CBDC.
Despite the buzz surrounding central bank digital currencies, the Federal Reserve remains far from launching its own CBDC. Fed Chair Jerome Powell stated in September last year that no decision has been reached on a digital dollar, and it won’t come for “at least a couple of years.”
What do you think about Donald Trump and Robert F. Kennedy Jr. vowing to stop the creation of a central bank digital currency in the U.S.? Let us know in the comments section below.
Congressman Tom Emmer Offers to Help Donald Trump Fight Central Bank Digital Currencies
Congressman Tom Emmer has offered to help former U.S. President Donald Trump fight the creation of a central bank digital currency (CBDC) in the U.S. “I agree with President Trump; CBDCs pose a serious threat to Americans’ right to financial privacy. I look forward to working with him as we continue the fight against the expanding government surveillance state,” the lawmaker stated.
Rep. Emmer Joins Trump in Fight for Americans’ Right to Financial Privacy
House Majority Whip Tom Emmer (R-MN) has expressed support for former U.S. President Donald Trump in the fight against the creation of a digital dollar.
Last week, Trump promised the American people that if he is elected president of the United States in the upcoming election, he will make sure that a central bank digital currency (CBDC) does not get created in the U.S. “As your president, I will never allow the creation of a central bank digital currency … Such a currency would give a federal government … absolute control over your money … This would be a dangerous threat to freedom, and I will stop it from coming to America,” Trump said.
Commenting on Trump’s statement regarding CBDCs, Congressman Emmer wrote on social media platform X Friday:
I agree with President Trump; CBDCs pose a serious threat to Americans’ right to financial privacy. I look forward to working with him as we continue the fight against the expanding government surveillance state.
The lawmaker added in a follow-up post: “Congressional Republicans have been fighting against the implementation of a surveillance-style CBDC. My bill, the CBDC Anti-Surveillance State Act, has 75 cosponsors and we are continuing to build support.”
Several Fed officials and lawmakers question the need for a CBDC. Fed Governor Michelle Bowman, for instance, has yet to see a compelling argument that a digital dollar could solve any of these problems more effectively or efficiently than alternatives, or with fewer downside risks for consumers and for the economy.
The Federal Reserve has begun exploring a digital dollar, but it hasn’t committed to creating one. In September last year, Fed Chair Jerome Powell clarified, “We have not decided to proceed [with a digital dollar] … We see this as a process of at least a couple of years.”
Emmer recently said that Trump will likely become “a lot more” crypto-friendly in his second term as president. Recent data from the decentralized crypto-based predictions platform Polymarket suggests that Donald Trump, the 45th president of the United States, is currently leading with a 48% chance of victory. Several analysts, including those at asset management firm Vaneck, expect the price of bitcoin to hit record highs if Trump wins the U.S. presidential election in November.
What do you think about House Majority Whip Tom Emmer offering to work with Donald Trump to fight against the creation of a U.S. central bank digital currency? Let us know in the comments section below.
Ex-President Trump Launches Limited Edition Cards on Bitcoin Blockchain via Ordinal Technology
The ex-45th President of the United States has been engaged in the sale of digital trading cards for a considerable period. On Thursday, the official account for the trading card enterprise announced the launch of Trump cards that are crafted using the Bitcoin blockchain’s Ordinal inscription technology. The creators of this venture have stated that a mere 200 units of the Trump Digital Trading Cards Mugshot Edition Bitcoin Ordinals “will ever exist in the world.”
Trump Reveals Exclusive Bitcoin Ordinal Inscribed NFT Trading Cards
Trump’s collectible non-fungible token (NFT) trading cards are set to debut on Bitcoin. This news comes from the official X account, known as ‘Collect Trump Cards,’ which shared this information on Thursday afternoon. “Trump Digital Trading Cards on Bitcoin Ordinals. The first ever Trump Trading Cards on Bitcoin,” the account said. “Great news collectors. When you purchase 100 Trump Digital Trading Cards using crypto (WETH) on collecttrumpcards.com Mugshot Edition, you also get a one-of-one Trump Digital Trading Card. Your one-of-one card will be minted as a Bitcoin Ordinal.”
The announcement comes in the wake of the ex-president’s December 2023 introduction of the new NFTs, where it was revealed that purchasers of 47 Mugshot Edition collectibles would acquire a piece of the suit Trump donned for his mugshot photograph. Subsequently, it emerged that, in the same month he unveiled this new card series, Trump had reportedly sold 1,325 ether, amounting to million. Screenshots of the “congratulations” message, received upon the purchase of 100 cards, have been circulating on social media. This message highlights that Bitcoin Ordinals represent a distinctive method for data embedding.
“Bitcoin Ordinals are a new innovative way to inscribe data, such as art, collectibles, or Trading Cards, onto the Bitcoin blockchain,” the message notes. Donald Trump has expressed mixed opinions about bitcoin in the past. “I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activity,” Trump wrote on July 11, 2019. Suddenly, in December 2022, Trump chose to debut the first collection of collectible NFT cards.
Initially minted on the Polygon blockchain, the NFTs saw their next phase in mid-April 2023 when the former president unveiled his second collection of NFT cards. Trump’s cards consistently provide rewards such as opportunities to have dinner with Trump at Mar-A-Lago or to play golf alongside him. Currently, the website displays images of collectors who have secured some of these coveted prizes. Incorporating the mugshot photograph NFTs into the Bitcoin blockchain as Ordinal inscriptions represents yet another distinctive reward in the series.
What do you think about Trump’s latest move toward minting his digital cards on the Bitcoin blockchain? Share your thoughts and opinions about this subject in the comments section below.
Donald Trump Promises to Block Digital Dollar Creation — Calls CBDC ‘Dangerous Threat to Freedom’
Former U.S. President Donald Trump has promised to stop the creation of a U.S. central bank digital currency (CBDC) if he is elected president of the United States. He explained that a digital dollar would give the federal government “absolute control over your money,” warning that the government could take your money and you wouldn’t even know that it’s gone. “This would be a dangerous threat to freedom, and I will stop it from coming to America,” Trump vowed.
Donald Trump Says He ‘Will Never Allow’ CBDC in the US
Former U.S. President Donald Trump held a rally in the state of New Hampshire on Wednesday. Among various promises Trump made was the creation of a U.S. central bank digital currency (CBDC). The former president said:
Tonight I’m also making another promise to protect Americans from government tyranny. As your president, I will never allow the creation of a central bank digital currency.
“You know what they’re doing. Such a currency would give a federal government — our federal government — absolute control over your money. They could take your money. You wouldn’t even know it’s gone. This would be a dangerous threat to freedom, and I will stop it from coming to America,” Trump exclaimed.
Many lawmakers share Trump’s skepticism of central bank digital currencies, including Rep. Tom Emmer (R-MN). The congressman has introduced the CBDC Anti-Surveillance State Act, which now boasts 75 co-sponsors. The bill prohibits the Federal Reserve from using CBDCs for monetary policy or offering services directly to individuals.
Several Fed officials and lawmakers question the need for a CBDC. Fed Governor Michelle Bowman, for example, said in October last year: “I have yet to see a compelling argument that a U.S. CBDC could solve any of these problems more effectively or efficiently than alternatives, or with fewer downside risks for consumers and for the economy.”
While the Federal Reserve has started exploring the implications of a digital dollar in the U.S., they haven’t committed to actually creating one. In September last year, Fed Chair Jerome Powell clarified: “We have not decided to proceed [with a digital dollar] and we don’t see ourselves making that decision for some time … We see this as a process of at least a couple of years where we are doing work and building public confidence in our analysis and in our ultimate conclusion.”
What do you think about former U.S. President Donald Trump vowing to stop the creation of the U.S. central bank digital currency if he is elected this year? Let us know in the comments section below.
Polymarket Predicts Trump as 2024 US Election Winner With 48% Chance, Biden and Haley Trail in Predictions
With the U.S. presidential election just about nine months on the horizon, it appears that American electors are poised to encounter familiar faces from the 2020 race — Joe Biden and Donald Trump. Recent data from the decentralized crypto-based predictions platform Polymarket suggests that Trump, the nation’s 45th president, is currently leading with a 48% chance of victory.
2024 U.S. Election Forecast: Trump Ahead With 48% on Polymarket, Biden Trails
As the U.S. election competition intensifies, despite Vivek Ramaswamy‘s withdrawal, former President Donald Trump has maintained a substantial lead over his Republican rivals in recent months. Trump recently triumphed in the Iowa Caucus, securing the initial victory in the 2024 Republican presidential nomination race. He achieved a commanding lead with a 51% margin, followed by Florida Governor Ron DeSantis in second place, and former U.S. Ambassador to the U.N., Nikki Haley, clinching the third spot.
According to the forecasting platform Polymarket, Donald Trump is favored with an 89% likelihood of securing the Republican party’s nomination, while Nikki Haley stands at a 6% probability. On the Democratic front, Joe Biden is predicted to have a 78% chance of nomination, outpacing California Governor Gavin Newsom’s 6% chance. Essentially, Polymarket operates as a decentralized platform for predictions, allowing users to buy and trade shares based on potential events and outcomes. This market leverages blockchain technology for enhanced transparency and security.
As the election approaches on Nov. 5, 2024, the current trends on Polymarket suggest Trump is the frontrunner with a 48% advantage, surpassing Biden’s 36%. Following Biden, Haley is seen with a 3% likelihood of winning the general election. Intriguingly, despite his absence from the race, Vivek Ramaswamy holds a 2% chance. Robert Kennedy Jr. also holds a 2% chance of victory, as indicated by Polymarket’s data. Furthermore, this cryptocurrency-driven prediction market is not the sole betting platform indicating a Trump victory.
Oddschecker’s data reveals Trump with a 45.5% likelihood of clinching the election, compared to Biden’s 33.3% probability. Nikki Haley is given a 5.9% chance of victory in their analysis. Meanwhile, the web portal Bet Ohio positions Trump in the lead with a 46% chance, Biden following at 36%, and Haley at 9% in the race for the 2024 presidency. Notably, both Kennedy and DeSantis are pegged at a 3% chance, as recorded by Bet Ohio on Jan. 17, 2024. Additionally, the betting site Covers indicates Trump is ahead with a 47.6% chance, while Biden trails behind at 34.8%.
What do you think about Polymarket predicting Trump winning the 2024 U.S. election? Share your thoughts and opinions about this subject in the comments section below.
US Lawmaker Expects Donald Trump to Become ‘a Lot More’ Crypto Friendly in Second Term as President
U.S. Representative Tom Emmer expects former U.S. President Donald Trump to become “a lot more” friendly toward cryptocurrency if he returns to the White House. Trump has launched three non-fungible token (NFT) collections since leaving office. Meanwhile, some analysts predict that bitcoin’s price could reach record highs if Trump wins the presidential election this year.
Donald Trump Expected to Become Much More Crypto-Friendly
House Majority Whip Tom Emmer (R-MN) believes that former U.S. President Donald Trump’s potential return to the White House could usher in a regulatory landscape more favorable to the crypto industry. Emmer, who endorsed Trump in the 2024 Republican presidential primary, is a vocal crypto supporter. The congressman was quoted as saying:
If the second Trump administration takes place, [the] president will be a lot more friendly to the crypto industry.
Trump was no fan of bitcoin or other cryptocurrencies while he was president. “I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activity,” he wrote on Twitter (now X platform) in July 2019.
However, since leaving office, the former U.S. president has launched three non-fungible token (NFT) collections. The most recent one was the Mugshot Edition unveiled in December last year. His first NFT collection was a digital card collection featuring art of his life and career. His second NFT digital card collection was launched in April, which was 19 days after he was indicted with 34 felony counts of allegedly falsifying business records. According to an on-chain analysis, Trump recently sold ETH worth millions he acquired from the NFT sales.
Brian Brooks, a former chief legal officer at crypto exchange Coinbase who served as Acting Comptroller of the Currency from May 2000 to January 2021, commented:
The people that [Trump] would put in regulatory roles are much more likely to at least be crypto-open, if not overtly crypto-friendly, than this administration.
Trump recently warned of a stock market crash and another Great Depression if he doesn’t win the presidential election this year.
Asset management firm Vaneck’s analysts predict that the price of bitcoin will hit record highs if Trump wins the presidential election this year. “We think the bitcoin price will reach an all-time high on November 9th,” the firm wrote in its 15 crypto predictions for 2024. Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark noted in September last year: “Crypto-voters might be one-issue voters and are a powerful and passionate constituency, so perhaps former President Trump will change his crypto-tune dramatically.”
Do you think former U.S. President Donald Trump will become a lot more crypto-friendly if he is elected president of the United States this year? Let us know in the comments section below.
Donald Trump Warns of Stock Market Crash and Great Depression if He Doesn’t Win Presidential Election
Former U.S. President Donald Trump has warned that the U.S. could face a stock market crash worse than that of 1929 and a Great Depression if he doesn’t win the upcoming presidential election. He stressed that the U.S. economy is “terrible” and inflation over the past three years “has totally destroyed the buying power of the consumer.”
Trump’s Market Crash and Depression Warnings
Donald Trump, the 45th President of the United States, has sounded the alarm regarding the U.S. economy if he doesn’t win the presidential election this year.
The former U.S. president posted on his social media platform Truth Social on Friday: “The economy is terrible & inflation, which by some accounts is more than 30% over the last three years, has totally destroyed the buying power of the consumer. The only thing that is keeping the economy ‘alive’ is the fumes of what we accomplished during the Trump administration.”
Trump added: “The stock market is only high because people, & institutions, believe & expect me to win the presidential election of 2024.” He warned:
If I don’t win, it is my prediction that we will have a stock market ‘crash’ worse than that of 1929 — a Great Depression.
Official Bureau of Labor Statistics (BLS) data show a 17% price increase since President Joe Biden took office. However, an alternative inflation measure, applying the same methodology used in the 1980s, estimates this figure to be roughly double, exceeding 30%.
Trump’s path to the 2024 Republican nomination faces roadblocks, with ongoing legal battles. He is presently barred from the primary ballot in Colorado and Maine. The Supreme Court is expected to rule whether states have the authority to prevent from running for president.
This isn’t Trump’s first warning about economic calamity if he loses the 2024 presidential election. In July, he predicted an economic depression. In April, he fretted over a crashing U.S. dollar and our proximity to World War III. He also stressed that the U.S. is losing the currency war against China, noting that the Chinese government is attempting to dethrone the USD as the world’s dominant currency.
Meanwhile, some have predicted that Trump’s presidential victory would send bitcoin soaring. Asset manager Vaneck, for instance, anticipates an all-time high for BTC after Trump wins the election. John Reed Stark, former internet enforcement chief at the U.S. Securities and Exchange Commission (SEC), even suggested that Trump may change his anti-crypto stance dramatically. In addition, the former U.S. president recently launched his third non-fungible token (NFT) collection and reportedly sold millions of dollars in ether (ETH) he received from NFT sales.
What do you think about former U.S. President Donald Trump’s warnings? Let us know in the comments section below.