On December 18th, CITIC Securities stated that in the future, Trump may establish a “Cryptocurrency Advisory Committee” and consider using Bitcoin as a strategic reserve asset for the United States. Even if the US Congress advances the Bitcoin reserve plan in the future, we expect its rate to be slow and the process to be constantly bumpy, with limited impact on the global dollar reserve currency system.
However, it is expected that cryptocurrency payments will be promoted, especially the use of stablecoins in cross-border payments may become more widespread. Given the Republican Party’s victories in both houses of Congress and Trump’s stated attack on the digital dollar in this election, it is expected that the Federal Reserve will not be able to launch a digital dollar during Trump’s term. The Federal Reserve will still primarily focus on traditional economic indicators, and cryptocurrency will have a relatively small impact on its monetary policy.

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