As the 2024 presidential election approaches, former President Donald Trump made a series of eye-catching promises at the 2024 Bitcoin Conference held in Nashville, Tennessee on July 27. This not only demonstrated his attention to the cryptocurrency field, but also highlighted the importance of this field in the global political and economic landscape.
Trump's strategic commitment
Trump made it clear at the Bitcoin Conference that if he is re-elected as president, he will strongly support the development of Bitcoin and cryptocurrency. He stressed that the United States must dominate this field, otherwise it will be surpassed by China and other countries. To this end, he put forward a series of specific policy commitments, aiming to make the United States a global leader in cryptocurrency.
Building a National Bitcoin Reserve
Trump promised that if elected, he would list Bitcoin as a national strategic reserve asset. He said the federal government would retain all the Bitcoins currently held, about 210,000, or 1% of the total Bitcoin supply. This move not only gives Bitcoin a strategic status similar to gold, but also makes the United States the first country in the world to officially include Bitcoin in its national strategic reserve.
Reforming cryptocurrency regulation
Trump announced that he would fire Gary Gensler, the current chairman of the U.S. Securities and Exchange Commission (SEC), on his first day in office. Gensler has been hostile to the cryptocurrency industry since taking office in 2021, and his regulatory approach has been criticized. Trump promised to change this situation, saying that current regulations are "too unclear, harsh and rigid" and hinder industry innovation.
In addition, Trump said that he would set up a "Presidential Advisory Committee on Bitcoin and Cryptocurrency" to formulate the country's cryptocurrency policy. He also promised that there would never be a central bank digital currency (CBDC) during his presidency.
Encouraging sustainable mining and energy innovation
In the energy sector, Trump hopes to promote the development of Bitcoin mining by encouraging innovation in the power plant and electric vehicle sectors and the cryptocurrency industry. He promised to increase efforts in the power supply sector, develop fuel power generation, nuclear power and other environmentally friendly power generation methods, and explore synergies between the cryptocurrency industry and the electric vehicle industry. This commitment is in line with the growing interest in sustainable crypto mining and the potential of blockchain technology to revolutionize the energy industry.
Promoting Bitcoin Mining and Innovation
Trump said at the conference that he would take a series of measures to promote innovation and development of Bitcoin mining. He pointed out that Bitcoin mining is not only at the forefront of technology, but also an important innovation in the fields of energy and environment. He promised to build more environmentally friendly and efficient mining facilities across the country and support the application of renewable energy to achieve green mining.
Market Reaction
Trump's promises have caused a strong reaction in the market. After his speech, the price of Bitcoin fell below $67,000, but then rebounded quickly, rising 0.94% to $68,182 as of July 27. Market analysts pointed out that if Trump's promises can be realized, it will greatly enhance the status of the global cryptocurrency market and bring more investment and development opportunities to the industry.
Opportunities and prospects of Polaris Capital
As a compliant Bitcoin mining fund, Digital Polaris Investment SPC has been committed to providing professional, honest and innovative services since its establishment. The company's team is composed of professionals from top institutions such as Goldman Sachs and Huobi, who have extensive experience in finance and cryptocurrency. Their goal is to simplify the investment process and provide investors with maximum returns.
Advantages of Polaris Capital
Polaris Capital has demonstrated unique advantages in the field of Bitcoin mining. The company is able to quickly acquire top-notch mining equipment and provide efficient and durable facilities at low prices. At the same time, the company chooses to deploy mining farms in areas with low electricity costs and favorable climatic conditions (such as Russia and Texas in the United States) to ensure that the mining machines can operate stably and efficiently.
During the operation, Polaris Capital strictly follows regulations, monitors market dynamics and cutting-edge technologies in real time, and ensures the transparency of the process. This transparent operation method not only improves efficiency, but also protects the interests of investors. In order to improve the management and operation efficiency of the fund, Polaris Capital cooperates with Mulan Investment Management Co., Ltd. Mulan Investment is a licensed institution regulated by the Hong Kong Securities and Futures Commission, focusing on the compliance business of virtual assets.
The Bitcoin Ecosystem Investment Fund launched by Polaris Capital adopts the Cayman SPC open-end mutual fund structure and is only issued to professional investors. In terms of compliance and transparency, the company cooperates with many top institutions such as Travers Thorp Alberga, ASCENT Fund Services (Hong Kong) Ltd., Green Link Digital Bank, Hex Trust and Rankin Berkower (Cayman) Ltd. to ensure the compliance and transparency of fund operations.
Data shows that Polaris Capital's fund has a total return of 170 BTC / 12,010,361.50 USD between December 31, 2023 and April 30, 2024, with an average return of 51.15%. With the development of the Bitcoin market and the optimization of the investment environment, the fund's profit potential is expected to increase further. If the Bitcoin price reaches $100,000, the fund's annualized return rate is expected to be 146%; if the Bitcoin price reaches $200,000, the annualized return rate is expected to be as high as 336%.
Conclusion
Trump's promise at the Bitcoin Conference provides new opportunities and challenges for Bitcoin mining funds like Polaris Capital. In this rapidly developing field, policy changes and market reactions are closely linked. Polaris Capital will continue to leverage its advantages, seize opportunities, achieve sustainable development, and drive the Bitcoin mining industry to new heights.
