Bitcoin, which soared after the election of Donald Trump as president of the United States due to the prospect of flexibility regulation of cryptocurrencies, exceeded US$82,000 for the first time on Monday.
In operations this Monday, the decentralized digital asset was trading at US$82,479, in a market that was however not very dynamic due to the holiday in countries such as the United States and France, for the anniversary of the end of the First World War in 1918.
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On Wednesday of last week it had reached the US$75,000 mark, surpassing its March record, which stood at US$73,797.98. Trump pledged during the election campaign to turn the United States into “the world capital of bitcoin and cryptocurrencies”, with an extremely flexible regulatory framework.
The Republican initially described cryptocurrencies as a “scam”, although he later became one of their defenders and recently launched his own platform to operate with them. This position contrasts with that of the current government of Democrat Joe Biden, in favor of stricter regulation.
Bitcoin
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What does Trump’s government 2.0 mean for the technology sector?
Donald Trump’s second term in the White House promises news for the American technology industry, immersed in a frenzy of artificial intelligence (AI), cryptocurrencies and tensions over antitrust disputes.
Elon Musk
There is no doubt that Elon Musk, the world’s richest man, will play a central role in Trump’s approach to Silicon Valley, after providing a boost to his campaign financing. “A star is born: Elon,” said the Republican in a tribute to the head of Tesla, SpaceX and the X network (formerly Twitter) in his victory speech last Tuesday. Trump has offered Musk a position in his government to reorganize the federal administration and possibly have influence over regulation of the technology sector, to which his companies belong.
Contrary to the initial caution regarding Donald Trump’s first election in 2016, This time the titans of technology did not take long to manifest themselves. “Congratulations to our 45th president and now 47th president for his extraordinary political comeback and decisive victory,” Jeff Bezos, founder of Amazon, wrote in X.
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Bezos’s position was clear since he banned his newspaper, the influential Washington Post, from supporting Democrat Kamala Harris, a decision seen as an attempt to avoid friction in the event of Trump’s eventual return to power. Tim Cook, director of Apple, sent his congratulations to the president-elect, as well as Mark Cuban, a technology billionaire who supported the Democratic vice president.
Mark Zuckerberg, head of Meta (Facebook, Instagram), He also congratulated Trump, with whom in recent months he has tried to resume ties.
Trump reproaches the founder of Facebook for having temporarily excluded him from the platform at the beginning of 2021 for supporting his supporters who violently broke into the Capitol on January 6 of that year. On the other hand, all the titans of the technology firms are seeking the departure of Lina Khan, director of the Federal Trade Commission (FTC) that oversees competition matters, appointed by President Joe Biden and who advances a policy to put a stop to the unlimited expansion of technological emporiums.
Donald Trump’s victory skyrocketed the price of bitcoin
AFP
Artificial intelligence
One of the main challenges of the industry is the regulation of intelligence.to artificial (AI). Since the company OpenAI launched generative artificial intelligence through ChatGPT, the power and potential of this technology has unleashed passions, from enthusiasm to anguish.
Joe Biden signed an executive order setting optional standards for AI safety, with an emphasis on protecting privacy and combating discrimination and bias. It also establishes the creation of the American AI Safety Institute, in charge of studying the risks of this technology. However, said decree could be reviewed or annulled following recommendations from libertarian businessmen who fear regulations that stifle innovation.
TikTok
TikTok’s complicated fate could also change. According to a law enacted by Biden, the Chinese company that owns the application, Bytedance, has until January to dispose of it in the United States. But Trump, who had tried to ban the platform, Now he opposes it, considering that this would only favor Instagram and Facebook.
White House.
EFE
Finally, the president-elect has also talked about dismantling the CHIPS law, on essential electronic components manufactured mainly in Asia. Trump is counting on replacing Biden’s subsidies to this industry with aggressive tariffs, aimed at forcing companies to build them in the United States.
Jack Gold, an industry analyst, warned against this approach by highlighting that “tariffs are a sanction, not an incentive (…) and these will not be enough to recover US production of microchips.”
With information from AFP.
