Discussing Bitcoin during Thanksgiving has evolved – Yahoo Finance
It’s that time of year again when the turkey and pumpkin pie are on the table, and so is the conversation about bitcoin. This Thanksgiving, the talk around the dinner table might be a bit different.
Bitcoin is making a comeback, just in time for the holidays. With President-elect Donald Trump’s victory, there is a new wave of excitement in the crypto world. Trump has declared that he wants the United States to be the crypto capital of the world, and he plans to establish a national bitcoin reserve. As a result, bitcoin recently reached a record high of nearly $100,000.
The departure of SEC Chair Gary Gensler, known for his tough stance on crypto, is paving the way for a more crypto-friendly administration under Trump. His choices for key positions in his Cabinet, such as Treasury and Commerce, are individuals who support digital currencies.
While some experts question whether bitcoin can be a reliable store of value or a widely adopted financial technology, others believe that Trump’s allies in the crypto space could bring clarity to the asset class. With the current high interest rate environment, there are concerns about how long the excitement around the “Trump trade” will last.
As we head into the holiday season, expect to hear more about bitcoin at Thanksgiving dinner. Whether you’re a seasoned investor or just getting started, the conversations around the table are sure to be lively. So, pass the stuffing and let the bitcoin discussions begin!
