Trump Vows to Make US AI and Crypto Superpower Amid Controversies
Former U.S. President Donald Trump has reiterated his ambition to transform the United States into a leading force in artificial intelligence (AI) and cryptocurrency, featuring prominently in his address at the World Economic Forum in Davos. This reaffirms his earlier statements made at a Bitcoin conference in July 2024, aiming to position the U.S. as a ’global cryptocurrency capital’ and a ’Bitcoin superpower.’ Despite these assertive declarations, skepticism persists regarding the feasibility of these plans, particularly as there have been no explicit policies or executive orders from his administration concerning digital assets or blockchain. Furthermore, Trump’s actions have drawn criticism, including the launch of an official token named TRUMP, accused of potentially serving self-enrichment interests and possibly under foreign influence. Notably, Trump has acted on a similar promise before by commuting the sentence of Ross Ulbricht, the Silk Road founder, following discussions with a Libertarian Party leader. The implications for the cryptocurrency market remain uncertain, although signs from policymakers, like Senator Cynthia Lummis indicating a leadership role in digital asset regulation, have shown temporary positive effects on Bitcoin prices.
Neutral
Trump’s commitment to making the U.S. a leader in AI and cryptocurrency is reaffirmed, but skepticism persists due to a lack of clear policies and previous controversies. His actions, such as the launch of a controversial token, generate market uncertainty. While there are indications from lawmakers like Senator Lummis that offer brief positive signals, the overall market response remains cautious. These factors result in a neutral short-term market impact, with a wait-and-see approach as long-term implications depend on policy developments and market reactions.