Analyst Says “Cryptocurrencies Will Be Like the New Space Race in the Trump Administration”, Shares What He Expects
The post Analyst Says “Cryptocurrencies Will Be Like the New Space Race in the Trump Administration”, Shares What He Expects appeared on BitcoinEthereumNews.com.
The cryptocurrency industry is awash with optimism as the price of Bitcoin has surged by over 40% since Donald Trump’s election victory in November, with many in the crypto community hopeful that the new administration will encourage a more crypto-friendly regulatory environment. Ari Redbord, head of legal and government affairs at blockchain intelligence firm TRM Labs, joined CNBC’s Squawk Box to discuss the impact of a Trump presidency on digital assets in 2025. “A lot of promises were made on the campaign trail, and now we’re starting to see some of those promises come to fruition,” Redbord said, highlighting key appointments in Trump’s administration, including Scott Besson as Treasury Secretary, Paul Atkins as SEC Chairman, and David Sacks, a former PayPal executive, stepping into the role of “chief crypto officer.” “When it comes to people, we see leadership across the Cabinet that supports digital assets and innovation,” Redbord said. He likened the current momentum in the U.S. crypto space to a “space race,” noting that the country now has the opportunity to catch up or surpass global competitors in the blockchain and digital asset space. Bitcoin has been the focus of this renewed optimism, reaching nearly $100,000 amid speculation about impending policy changes. “Bitcoin has traditionally been seen as an investment mechanism or store of value,” Redbord said. “But what’s exciting is seeing the technology being used in meaningful ways, like cross-border payments, remittances, and more.” Redbord also commented on proposals such as a US strategic Bitcoin reserve that could increase Bitcoin’s role in national and global finance. Similar initiatives are also being explored by countries and even US states like Texas, signaling a shift in how governments view cryptocurrencies. While Redbord is bullish on Bitcoin’s long-term potential, he refrained from making specific price predictions. However, he hinted at his…
Filed under: News - @ January 7, 2025 1:22 am