Trump and Musk Eye Fed Changes – Could Bitcoin Adoption Be Next for the U.S.?
Trump and Musk advocate for more presidential control over the Federal Reserve, with Bitcoin increasingly viewed as a hedge against inflation and national debt.
Amid concerns over the Fed’s influence, Bitcoin is gaining traction as a potential tool for managing the U.S. economy, particularly in the context of inflation and debt management.
Following Donald Trump’s 2024 election victory, Tesla and SpaceX CEO Elon Musk openly endorsed giving the president a more hands-on role in directing Federal Reserve policy. This is in line with a recent CNF update that highlighted how, after Trump’s victory, Bitcoin’s price surged by 9.6% to a record high of $75,198, while Ethereum followed with an increase of 8%.
As of now, Bitcoin (BTC) is trading at $86,370.71, having surged by 5.51% in the past day and 25.63% in the past week.
In a recent tweet, this support came as a response to Utah Senator Mike Lee’s post, which argued for the Fed to be controlled directly by the president, with Lee using the hashtag #EndtheFed. Musk’s “100” emoji response underscored his agreement, reflecting a shared desire with Trump to reduce the Fed’s independence and align its actions more closely with presidential influence.
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