Bitcoin Strategic Reserve Possible Under Trump, Says Coinbase CEO
A prominent industry figure has suggested that a strategic bitcoin reserve under President Trump is a realistic possibility. Brian Armstrong, CEO of Coinbase, revealed this during a meeting with Yahoo Finance at the World Economic Forum in Davos.
Trump's Crypto Encouragement
Armstrong has met with Trump on multiple occasions, advocating for the crypto industry. He believes that the current administration is receptive to the idea of a bitcoin reserve, as the US already holds reserves in various commodities.
Trump Coin Surprises
In recent days, Trump has surprised the crypto world with the introduction of the Trump coin and Melania's coin. These ventures are affiliated with the Trump organization, raising ethical concerns about potential conflicts of interest.
Crypto Regulatory Paradigm Shift
Bernstein digital assets analyst Gautam Chhugani views the launch of meme coins by prominent political figures as a significant regulatory shift. It suggests that governments are embracing crypto as a means of direct communication with the public.
Trump's Crypto-Friendly Stance
Since announcing his 2024 presidential campaign, Trump has expressed a pro-crypto stance. He has appointed crypto advocate Paul Atkins to the SEC and venture capitalist David Sacks as an AI and crypto czar.
Expert Optimism for Bitcoin
Analysts such as Mark Palmer are optimistic about bitcoin's future, predicting its price could reach $225,000 by 2026. Traditional investment entities are also showing increased interest in crypto, such as Wisconsin's pension fund which recently invested $160 million in bitcoin ETFs.