Bitcoin Price Soars as Trump and Biden Warn of Dollar Collapse: Forbes CryptoAsset & Blockchain Advisor Offers Insights

Bitcoin has been on a rollercoaster ride this week, with the price swinging wildly as U.S. president Joe Biden and former president Donald Trump were warned about the “only way to save the dollar.” The cryptocurrency has been breaking records, topping its previous all-time high and climbing above $70,000 per bitcoin. This surge has also had a positive impact on other major cryptocurrencies like ethereum and Ripple’s XRP.

Ripple’s chief executive has even predicted the inevitable rise of a new crypto exchange-traded fund (ETF) after the success of Wall Street’s spot bitcoin ETFs. With the Federal Reserve acknowledging that gold is replacing the U.S. dollar, crypto investor Brock Pierce believes it’s only a matter of time before China reopens its digital doors to crypto after the crackdown in 2021.

Pierce, who co-founded the USDT stablecoin issuer Tether, is optimistic about the future of crypto in Hong Kong, hinting at a new venture in the region. He believes that Hong Kong has the potential to lead in traditional finance and sees a big opportunity for a Hong Kong digital dollar stablecoin.

Recent developments have shown signs of China and Hong Kong warming up to crypto, with Bybit announcing that it will allow Chinese nationals living overseas to trade crypto on its platform. This move comes in response to the growing demand for secure and user-friendly cryptocurrency trading platforms among Chinese expatriates and international Chinese communities.

As the crypto market continues to evolve and gain mainstream acceptance, experts are predicting even more growth and opportunities for investors. Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor to stay ahead of the game and uncover potential blockbusters in the aftermath of bitcoin’s recent surge.