The digital currency market has been buzzing with excitement following President Donald Trump’s historic announcement about establishing a national digital currency reserve. This move has not only caused a surge in the price of Bitcoin and four other digital currencies mentioned by Trump, but it has also sparked questions among investors: Who is the mastermind behind this bold strategy?
On multiple occasions, Trump has shared the stage with Elon Musk, a strong advocate of digital currencies and a symbol of innovation. These two influential figures, with their impact reaching far beyond national borders, could very well be the driving force behind a financial revolution the world has never seen before.
Elon Musk – The Strategist Behind Trump’s Digital Currency Plan?
Despite their current strong support for digital currencies, it is worth noting that their initial thoughts on the matter were contrasting. During his first term (2017-2021), Trump expressed skepticism about digital currencies, referring to Bitcoin as a “scam” that could undermine the value of the US dollar. However, his stance took a significant turn during the 2024 election campaign, as he accepted cryptocurrency donations and branded himself as a “crypto-friendly” candidate.
Trump promised to boost the industry if elected, including removing stringent regulations and retaining all the Bitcoin held by the US government. This shift coincided with the time when Trump received strong support from Elon Musk, who contributed over 200 million dollars through a Super PAC to back his reelection bid.
 Donald Trump and Elon Musk. Source: BTA |
Elon Musk, a well-known figure in the digital currency investment community, has time and again proven that he is not just an investor but also a pioneer in integrating digital currencies into business practices. From his market-shaking tweets to Tesla’s decision to hold billions in digital currencies in 2021, Musk has left a profound impact on the market.
The intersection of Musk and Trump’s interests in digital currencies became more apparent after Trump’s election win in November 2024. Trump appointed Musk as the co-leader of the “Department of Government Efficiency” (DOGE), an advisory body outside the government, which coincidentally shares its acronym with Musk’s favorite cryptocurrency, Dogecoin. This appointment triggered a surge in the value of Dogecoin, more than doubling its price, as the market anticipated Musk’s potential influence on cryptocurrency policies under the Trump administration.
A Strategy with Global Financial Implications
Musk may have played an unofficial advisory role in Trump’s plan. During the 2024 election campaign, Trump repeatedly emphasized the need for the US to lead in blockchain technology, an outlook that resonates with Musk’s statements at technology conferences.
If Elon Musk indeed shaped the digital currency reserve strategy, his role would not be limited to providing advice but also serving as a liaison between the Trump administration and the tech and digital currency communities. This hypothesis is further supported by Trump’s emphasis on Bitcoin as “digital gold” in his speech, echoing Musk’s previous comparisons between Bitcoin and gold, highlighting its scarcity and intrinsic value.
Should Musk be the mastermind behind this idea, he could be orchestrating a long-term strategy to establish digital currencies as a national reserve asset for the US and, potentially, a global standard. With his experience leading Tesla and SpaceX, Musk understands how to leverage technology to disrupt traditional industries. This time, the financial sector might be next in line for transformation.
By incorporating digital currencies into the US national reserve, Trump, with Musk’s support, could position the US at the forefront of both traditional and decentralized finance. With hundreds of thousands of Bitcoins in reserve, the US could encourage major companies, like Tesla, to accept digital currencies in international transactions. This would not only boost the value of these currencies but also create a new financial ecosystem where the US dollar and Bitcoin coexist as complementary tools of power.
Given Musk’s influence in the tech industry, companies like SpaceX and xAI could take the lead in developing blockchain infrastructure to support the US reserve, setting a global standard in the process. If successful, this alliance could challenge the financial might of rivals like China’s digital yuan, e-CNY, forcing other nations to follow the US model.
However, there are significant risks to consider. The volatility of digital currencies could undermine confidence in the US reserve if Bitcoin prices were to plummet. Additionally, geopolitical rivals like China and Russia might accelerate their plans for national digital currencies, leading to a new type of financial arms race.
Mạnh HÃ
– 05:35 05/03/2025
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