Since the United States holds world power, and the president of the united states is like the president of the world, if a united states president publicly admits that he or she holds Bitcoin or Crypto what would be the financial implications, would it give Bitcoin the potential to become the world reserve currency? but I doubt that will actually happen because of the volatile nature of crypto, but for sure we all know it is a good store of value. And would the announcement threaten the existence of fiat currency and eventually make it obsolete?.
But a United States president (whoever the person may be) holding Bitcoin won't make much difference in making Bitcoin popular because Bitcoin right now is already mainstream, a Household name, the number crypto in the world and ever existed, but at this point, people are not supposed to be surprised when they hear that a prominent figure holds Bitcoin. But a US President holding Bitcoin and admitting publicly will be good for Bitcoin politically and would influence the adoption of crypto, and the short-term market price. Let us wait till then though and see what happens, but crypto is already inevitable, it is only a matter of time before world domination takes place.
Despite the fact that half of the U.S. nation will want bitcoin as a payment method for their salary and a ready to accept it fully, the other half will want nothing to do with it. Although there is going to be a challenge if and when the president of the united states announces that he or she holds bitcoin or crypto, which could lead to the U.S. adopting crypto as legal tender. Now the challenge I see is that everyone (countries) will want to follow in the footstep of the U.S. if it happens, which is a good thing for Bitcoin and Crypto. But that will not be good for the U.S fiat currency, as the United States Dollar (USD) still has significant dominance. In any case, the USD will lose dominance over crypto if it happens. in my opinion, I could be wrong tho.
I think a united states president will be the last person on earth to bet against the U.S. dollar publicly. But I'm sure that the U.S will embrace digital currency someday and behind closed doors, the president would or might actually hold Bitcoin and other altcoins but coming out to admit it would be next to impossible. In fact, that might not ever happen. to protect the relevance, integrity, and value of the United States Dollar (USD).
THANKS GUYS FOR READING MY POST.
PLEASE FOLLOW ME ON:
Discord: onwugbenuvictor#3447
Twitter: @VictorOnwugbenu