The Cryptocurrency market is developing at a rapid pace, all thanks to President Donald Trump for taking the market to the mainstream frame light. Before adopting his official information as US president, Trump promoted Helistically Bitcoin and showed his real commitment to the digital asset domain. After taking Eden as the official president of the United States, Trump did everything he could to strengthen the Cryptocurrency domain by starting a Bitcoin reserve and a crypto reserve for the world to note. Now Senator Cynthia Lummis has urged the US Treasury to implement a tax -free digital asset regime and to fully promote the flower market flower. If Trump manages to end taxes on digital asset domain, will bitcoin hover and touch on new heights? Let’s find out.
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Senator Lummis In Removal of Crypto Tax
“Our advantage in digital funding is at risk if US companies are taxed more than foreign competitors. Berniemoreno and I urged @lasaury to lift an unintentional tax burden for us digital asset companies. To lead the world in digital assets, we need a level of playing plan.
Our advantage in digital finance is at risk if US companies are taxed more than foreign competitors. @berniemoreno & I urged @Urushesury to lift an unintentional tax burden for us digital asset companies. To lead the world in digital assets, we need equal terms.⬇ pic.twitter.com/v7pwauqrc4
– Senator Cynthia Lummis (@senlummis) May 13, 2025
This update is crucial to promoting the holistic development of digital asset domain. In a new interview, Trump expressed a strong desire to dominate the crypto sector.
“I want crypto. I think crypto is important because if we don’t, China will go. It’s new, it’s very popular, it’s very hot … millions of people want it.”
Trump: “I want crypto. I think crypto is important because if we don’t, China will go. It’s new, it’s very popular, it’s very hot … millions of people want it” pic.twitter.com/jpbqispjkl
– unusual_whales (@unusual_whales) May 10, 2025
What will the price of Bitcoin be if Trump eliminates Krypto taxes?
Per chatgpt, bitcoin can grow to hit $ 120,000 to $ 150,000 in a short -term scenario. BTC can increase due to retail fomo and media frenzy, as well as increased hodling due to elimination of taxes.
In the medium term (3 to 12 months), BTC can float to hit $ 180,000 to $ 250,000. It can be driven by increased ETF inflows and BTC is considered an attractive store with value.
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