Crypto to Outpace Banking, $FLOCK Token Surges past $5.5M
Eric Trump (the second son of President Donald Trump) predicts that cryptocurrencies and blockchain will soon surpass the traditional banking system.
At a recent Bitcoin conference in Abu Dhabi, Trump said the current banking system was quite “outdated.” If you want to get a loan for your dream home, it will take at least 90 days. But by then, your dream house may be sold. However, blockchain can solve this problem with its faster and more efficient process.
He also added that blockchain can do everything the traditional banking system can do, just faster, better and cheaper.
Trump’s stance on cryptocurrencies
Eric Trump seems to share the same vision as his father. Donald Trump has been outspoken about his support for cryptocurrencies since the beginning of his re-election campaign. He has accepted donations from the cryptocurrency movement, appeared at multiple industry events, pledged to promote the industry with fair regulation, and pledged to make the United States the “crypto capital of the planet.”
That’s because he believes cryptocurrencies are the future of the world. Slowly but surely, every country will accept this new currency, so it is best for the United States to lead this revolution.
“If cryptocurrency is going to define the future, I want it to be mined, minted and manufactured in the United States,” he said.
The impact of Trump’s crypto-friendly stance on the overall market
Cryptocurrency investors may have noticed that the market has been rising over the past few weeks. Many popular currencies such as Bitcoin and Dogecoin, as well as some new entries in the pre-sale such as Flockzhas been making progress at a rocket pace.
Bitcoin valuation recently crossed the $100,000 mark. The surge began on Nov. 6, when it appeared Trump would win the election. In one day, the value of Bitcoin increased by $6,000. A week later, its total value reached $90,000; on December 5, Bitcoin crosses $100,000.
The same happened with Dogecoin. After Trump’s victory, its price per token more than doubled, from $0.16 to nearly $0.38 per token. Today (December 11), it’s listed at just over $0.39. This is one of the best years since 2021.
Flockerz, which is currently on pre-sale, has successfully raised $4 million to date. According to experts, big investors could become millionaires overnight when the token is finally launched as they expect it to deliver 4,000x returns.
Chasing the (New) American Dream
Analysts believe Trump’s victory in the presidential election is one of the reasons for this sudden increase. Trump has promised to reduce restrictions on cryptocurrency trading, lower taxes, develop preferential policies, and even appoint a cryptocurrency-friendly SEC chairman.
This gives new investors the much-needed confidence to finally get involved in the market. Seasoned investors are also looking to increase their investments. However, please remember that this is not financial or investment advice and it is important to conduct your own research before investing.
Therefore, if the market does continue to grow at this rate, Trump’s prediction will come true – cryptocurrencies will be the future and surpass traditional baking systems.
