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活动截止于7月25日 24:00 UTC+8
3
Why Trump Calls This Bitcoin Video the Best Ever? | CoinGape
U.S. President Donald Trump did what investors dreamed of by reposting a 7-year-old Senate testimony Bitcoin video and calling it the best. Since Trump joined the White House, the administration’s stance on crypto has shifted. The prime example is the Senate’s approval of three prominent crypto bills. More is in the pipeline, raising curiosity, and so does the question of why the president referred to this video.
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Why is this Bitcoin Video Shared by Trump The Best?
Over the weekend, the President reposted a 6-minute-long 2018 Senate testimony given by Peter Van Valkenburgh on Truth Social. More importantly, he captioned it as the “Greatest Bitcoin explanation of all time.” Although the video was already popular among crypto enthusiasts, its value has grown even higher since the president shared it.
The video explanation is considered best not only by Trump but by every crypto enthusiast as it’s not flashy or hyped. Instead, it cuts straight to the core and explains the exact need for BTC. Peter Van Valkenburgh, Director of Research at CoinCenter, presented a clear and precise explanation of BTC and why it’s needed, citing it as the ‘first cryptocurrency powered by the world’s first blockchain network.’
He highlights its prime benefits, including that it lets anyone, anywhere, send or receive value if they just have a computer and an interest. However, what makes it better is that the Trump Bitcoin video also explains its shortcomings and why they should be solved.
Valkenburgh adds that it’s not perfect as it’s not accepted everywhere, it’s volatile and doesn’t always serve the best story of value, but it works. Its functioning without a middleman is a breakthrough like the interest, and pushed BTC price to $119.3k.
‘Bitcoin is Revolutionary’
In the benefits and its needs, Valkenburgh answers “Is it revolutionary?” to which he indirectly answers yes. It’s explained that no digital payment system has been like this. Previously, banks, middlemen, and private institutions made people depend on them. However, that changes with BTC, as it’s borderless, permissionless, and like digital cash.
For a better explanation, the Trump shared Bitcoin video includes a powerful comparison with the Internet. However, the internet is revolutionary for information, not money, but BTC is. The decentralized infrastructure becomes more important considering the serious data breaches, hacks, and failures of real-world assets.
Overall, the video has a message that BTC is more than just digital money. It is a public infrastructure that is open, global, and resilient.
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Why Does Trump’s Shared Bitcoin Video Matter?
The BTC video acts as a reminder of Trump’s support for this and the rest of the digital assets. More importantly, it is a testament to his efforts in promoting it in the U.S. administration and worldwide, aligning with his other crypto-policy moves.
It includes Trump signing the GENIUS Act and the Senate approving two other crypto bills in Crypto Week. Notably, there’s also a strategic Bitcoin Reserve in formation, and other discussions for a bigger level of adoption.
In addition, Trump has confirmed support for crypto tax exemption and is soon to sign an executive order for the retirement market to invest in BTC.
With the BTC video, Trump has acknowledged Bitcoin’s metrics and shortcomings and shown support for it. Although Trump’s recent actions have spoken for themselves, the tweet further clarified it.
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Frequently Asked Questions (FAQs)
The Bitcoin video is Peter Van Valkenburg’s 2018 Senate testimony on Bitcoin.
This move is potentially to reinforce his pro-crypto stance amid recent regulatory moves.
Experts believe this is best, as it provides a simple, honest, and powerful explanation of Bitcoin.
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