Traders expected definitive steps, such as formally including Bitcoin in U.S. reserves or major tax reforms favoring digital assets. But they were left disappointed.
David Sacks, founder and general partner at Craft Ventures, recently discussed the lack of enthusiasm among traders following the G20 meeting. Despite expectations of bullish announcements, such as the inclusion of Bitcoin in U.S. reserves or favorable tax reforms for digital assets, traders were left disappointed.
However, Sacks highlighted the positive aspects of the meeting, including the government’s focus on expanding stablecoin adoption worldwide, which could create trillions of dollars in demand for USD and U.S. Treasuries. This, in turn, would strengthen the dollar’s global dominance rather than promoting Bitcoin as an alternative store of value.
Moreover, the government discussed its plan to reduce the federal budget by $4 billion a day and ease permitting restrictions for entrepreneurs to stimulate economic growth. Ultimately, the goal is to achieve zero inflation by the end of 2025.
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