Tuesday, January 28, 2025
Year : 2, Issue: 22/strong>
Economic Times: The inauguration of US President Donald Trump on Jan. 20 has caused a week-long surge in US tech stocks and Bitcoin, because of his positive remarks on developing the tech and AI infrastructure in the US, until China’s DeepSeek AI bot affected US tech stocks on Monday.
Trump also promised that “the US will be crypto capital of planet and Bitcoin superpower of world,” and said: “I want the US to be first in technology, science, manufacturing, artificial intelligence (AI) and space.”
Trump’s first term, which ended in 2021, saw a nationalist and protectionist economic and trade policy which prioritized American companies and goods. Trump continued to give remarks highlighting the continuation of this protectionist and “America First” policy.
“Bitcoin is going to the moon and I want America to be the nation that leads the way,” he said in the annual Bitcoin Conference on July 28, 2024.
“This is (like) the steel industry 100 years ago,” Trump said about Bitcoin. “In 15 years, Bitcoin has become the most valuable asset anywhere in the world, it is already bigger than ExxonMobil,” he added, referring to the largest energy company in the US.
“If we don’t do it, China and others will do it. So, let’s do it first and let’s do it right,” said Trump. “We cannot let China dominate. I want the US to be first in technology, science, manufacturing, artificial intelligence (AI) and space,” he noted. From Jan. 17 to 24, Bitcoin price soared 3.1% in a week, its price saw a historical high level by exceeding $109,000 on Jan. 20.
Meanwhile, the price of Ethereum decreased by 1% in the same period.
