Bloomberg took the initiative with "cryptocurrency", and Trump couldn't hold back!

【Original by Shilian Finance】

"Whether or not I win the presidential nomination, I will spend $1 billion to defeat Trump!"

"I'll support Joe Biden, Bernie Sanders, Elizabeth Warren, Tom Steyer or 'any candidate' as long as it's not Trump."

This was the response of American billionaire Bloomberg to the ridicule given by Trump after he spent more than 400 million U.S. dollars on advertising across the United States and won the qualification to debate with other Democratic presidential candidates on the 19th.

The implication is: As the saying goes, people with different ideals cannot work together. Since you and I are so incompatible, I have no choice but to spend some money to get you out of office. Who told me I have money? I can really be willful. Although $1 billion is not a small amount, I can still easily get it.

Interestingly, in March 2019, Michael Bloomberg ranked ninth on the 2019 Forbes Global Billionaires List with a fortune of $55.5 billion. Compared to Bloomberg, Trump's net worth is much lower. According to statistics, his net worth is only $3.1 billion.

If we convert it, wouldn't that mean Bloomberg is using one-third of Trump's wealth to get Trump out? It has to be said that Bloomberg is indeed a wealthy man!

After eating the gossip about the PK between these two in terms of net worth, let’s take a look at another shocking gossip.

On November 24, 2019, the American Broadcasting Corporation reported that Bloomberg had spent $37 million on campaign ads in California, New York, Florida, Texas and other places, but before that, no media reported that Bloomberg accepted cryptocurrency donations.

Although Michael Bloomberg has only been in the presidential race for a short time, according to data from the news website "538", Bloomberg's current voter turnout is about 16%, which means that he has already ranked second in the US presidential election.

It is worth mentioning that on February 19, US presidential candidate Michael Bloomberg proposed to create a regulatory framework for cryptocurrencies in the latest financial regulatory plan, hoping that these measures would provide greater government supervision and consumer protection.

“Cryptocurrencies have become an asset class worth hundreds of billions of dollars, but regulatory oversight remains highly fragmented and unfamiliar,” Bloomberg said. “There is still a great deal of hype, fraud, and criminal activity surrounding blockchain, Bitcoin, and initial coin offerings.”

From an objective point of view, although Bloomberg is not the first candidate in the history of the U.S. presidential election to support cryptocurrency regulation, given his background in the financial field, Bloomberg is the most trustworthy candidate so far.

In Bloomberg's plan, he clearly pointed out the following points:

1) Cryptocurrencies have become an asset class worth hundreds of billions of dollars, but regulatory oversight remains fragmented and undeveloped.

2) For all the promise of blockchain, Bitcoin, and initial coin offerings (ICOs), there has also been a great deal of hype, fraud, and criminal activity.

3) Bloomberg will work with regulators to provide clearer rules of the game.

This document not only calls on the government and the market to establish consumer protection mechanisms and clarify tax issues from the perspective of consumer protection, but also creates a framework for initial token issuance by determining which tokens are legal securities. It also requires the definition of supervision rules and regulations for banks and financial institutions.

Although Bloomberg's proposal is brief, it is powerful and stands out, especially when compared with the other major candidates.

Frontrunner Bernie Sanders has made no statements about cryptocurrencies; neither have Joe Biden or Elizabeth Warren; Pete Buttigieg has only said that Bitcoin should be considered a “commodity.”

Without exception, others remained silent on the issue of "cryptocurrency".

The only special person is Donald Trump. His attitude towards "cryptocurrency" is completely opposite to that of Bloomberg. Not only does he openly oppose cryptocurrency, he also does not demand regulation.

Trump publicly stated on Twitter that he is not a fan of Bitcoin and other cryptocurrencies. Cryptocurrencies are not currencies and their value fluctuates greatly. They have no physical objects, come out of thin air, and are not regulated. These factors allow cryptocurrencies to be used for illegal activities, including drug trafficking and other illegal activities.

At the same time, Trump believes that Facebook's stablecoin "Libra" is unreliable. If Facebook wants to switch to being a bank, it should be regulated like other traditional financial institutions.

Trump also insisted that "the dollar is the only real currency, and the dollar is now stronger than ever before. To this day, the dollar remains the world's most important currency and will always remain so."

Trump is a man who often gets slapped in the face. Recently, Trump, under the pretext of helping the U.S. Treasury Department, proposed in a $4.8 trillion budget proposal for the 2021 fiscal year that he would "return" the power of cryptocurrency regulation to the Secret Service under the U.S. Department of Homeland Security. He said this would expand the scope of cryptocurrency regulation.

Trump's inconsistent face is always unexpected, and his speed of slapping his face is comparable to the speed of light. I can only say that I can't catch up with him...

The fight between these two big men is really hilarious. However, no matter how Bloomberg supports cryptocurrency and how Trump opposes it, one thing that has to be admitted is that the international status of cryptocurrency has been increasing day by day, and it will also be one of the key points of competition in the US presidential election. As for the victory or defeat of these two people, it is not something that can be generalized.

So, who do you think will be elected as the US president?

This article is original to Shilian Finance, author: Suancaiyu, unauthorized reproduction is prohibited

This article only represents the author's views and does not represent the official position of Shilian Finance