According to a prominent figure in the industry, there is a genuine possibility of a bitcoin (BTC-USD) strategic reserve being established under President Trump. Brian Armstrong, CEO of Coinbase (COIN), expressed his belief that Trump is enthusiastic about the idea and aims to become known as the first “bitcoin president.” Armstrong shared these insights with Yahoo Finance during the World Economic Forum in Davos, Switzerland, where he had meetings with Trump both before and after the election to advocate for the cryptocurrency sector.
Armstrong highlighted the importance of countries diversifying their reserves beyond traditional assets like gold and oil, suggesting that adopting bitcoin as a reserve could become a global trend. He stated that any government holding gold should also consider including bitcoin in their reserves.
Recently, Trump has made several surprising moves in the crypto space. He unveiled the Trump coin, officially known as Trump (TRUMP-OFFICIAL-USD), which was created by CIC Digital, an affiliate of the Trump organization. The Trump coin garnered significant attention and quickly reached a market cap of $73 billion, making it the largest meme coin at the time. Additionally, Melania’s coin (MELANIA-USD) was introduced on the eve of Trump’s inauguration, further fueling controversy over potential conflicts of interest.
Trump’s positive stance on crypto has been evident since his 2024 presidential campaign, where he expressed interest in positioning the US as a leader in the industry. This sentiment is reflected in his appointments, such as crypto advocate Paul Atkins to lead the Securities & Exchange Commission (SEC) and venture capitalist David Sacks as an AI and crypto czar.
Industry analysts anticipate significant growth in bitcoin prices, with projections reaching as high as $225,000 by 2026. The increased interest in crypto is also reflected in traditional investment entities, as evidenced by Wisconsin’s pension fund adding bitcoin to its holdings with over $160 million invested in bitcoin ETFs.
Overall, Trump’s evolving approach to crypto and blockchain technology signals a shift in how governments and mainstream finance perceive and engage with digital assets, marking a potential turning point in the industry’s regulatory landscape.
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Embark on a riveting exploration of the latest news and exclusive interviews from the prestigious World Economic Forum in the picturesque Davos, Switzerland. As the political landscape shifts, whispers of an impending trade war with China loom on the horizon as President Trump assumes office, setting the stage for a high-stakes economic showdown.
The CEO of Bank of America sounds the alarm on the Federal Reserve’s potential need to react swiftly to the unpredictable maneuvers of the Trump administration. In a strategic move, the Suntory CEO discloses the company’s strategic whiskey stockpiling in Europe, a preemptive measure against the looming threat of Trump’s tariffs disrupting global trade.
In a surprising turn of events, the emergence of Trump coin and Melania coin is likened to ‘gambling tokens’ by none other than Anthony Scaramucci, shedding light on the whimsical side of political memorabilia. The Federal Reserve finds itself at a crossroads, contemplating a possible rate hike in response to the inflationary impact of Trump’s tariffs, a decision that could have far-reaching consequences on the economic landscape.
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