Bitcoin and crypto traders are being told to “expect fireworks” this month after BlackRock’s chief executive issued a “crazy” warning from the Federal Reserve.
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Bitcoin prices dipped below $60,000 per Bitcoin this week, but have since soared as former US President Donald Trump’s China nightmare suddenly seems to be becoming a reality.
After Tesla billionaire Elon Musk warned that the U.S. could go into “bankruptcy” as debt balloons out of control, billionaire investor Mark Cuban said he’d cut back on the U.S. national debt. It pokes fun at President Donald Trump’s plan to pay it back in Bitcoin or cryptocurrencies. Elon Musk’s proposed Department of Government Efficiency.
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Forbes: Expect Fireworks – BlackRock CEO issues ‘crazy’ warning to Fed as China’s ‘tsunami’ predicted to hit crypto and Bitcoin prices By Billy Bumbrough
Mark Cuban, a minority owner of the Dallas Mavericks, said that Donald Trump and Elon Musk’s proposal for the Department of Government Efficiency to pay off the U.S. national debt using Bitcoin and virtual currencies. is teasing plans for.
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“We don’t know what Elon will actually do,” Cuban said on the All In Podcast with fellow investors David Friedberg, Chamath Palihapitiya, Jason Karacanis and David Sachs. , responding to a question about how the United States could initiate policy, said: Tackling the massive debt mountain that has soared to more than $35 trillion this year.
“Maybe[he]will put Doge in the Treasury, but who knows, and that’s how they’re covering up everything,” Cuban said of Elon Musk and meme-based Bitcoin. joked, referring to its on-and-off relationship with rival Dogecoin.
In July, Cuban called the growing support for Republican 2024 presidential candidate Donald Trump among Silicon Valley founders, investors and executives the “Bitcoin drama,” and said he expected next month’s He predicted that if Trump wins the election, there will be a Bitcoin price boom.
The Cuban, an outspoken Democrat and supporter of US President Joe Biden who famously said in 2018 that he would rather eat bananas than Bitcoin, converted to Bitcoin and cryptocurrencies during the coronavirus pandemic. He has warned that Trump could win the 2024 presidential election. Joe Biden is against cryptocurrencies.
Earlier this year, President Trump hinted at the possibility of using Bitcoin to pay down America’s $35 trillion debt pile.
“Cryptocurrency is a very interesting thing,” President Trump told Fox Business in August. “Maybe we’ll pay back $35 trillion and give them a small crypto check? We’ll give them a small amount of Bitcoin and wipe out our $35 trillion.”
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Forbes Donald Trump’s ‘major’ China nightmare suddenly becomes reality By Billy Bumbrough
Bitcoin prices have soared to record highs this year, with Donald Trump, Elon Musk, and…(+)Mark Cuban all contributing to the push.
forbes digital assets
Earlier, President Trump attended the Bitcoin 2024 conference, where he promised to create a “National Strategic Bitcoin Reserve” and predicted that Bitcoin could surpass gold’s market cap of $16 trillion.
Speaking at the New York Economic Club in September, Trump proposed creating a Commission on Government Efficiency and said Elon Musk had agreed to “lead that commission.” It was named the Department of Government Efficiency (Doge).
Together, Musk and Cuban helped Dogecoin, a cynical fork of Bitcoin, become one of the world’s largest cryptocurrencies in recent years.
Dogecoin’s price soared along with Bitcoin and the broader crypto market in 2021, then crashed, but continued to hold much more value than most critics expected.
