Cryptocurrency Investment to Surge in Trump's Second Term, Says Coinbase CEO
Investment in cryptocurrency is expected to increase significantly during Donald Trump's second term as President of the United States, according to Coinbase CEO Brian Armstrong. Speaking at a panel discussion at the World Economic Forum in Davos, Armstrong attributed the rise to Trump's support for the industry.
"The Trump effect cannot be denied," said Armstrong. "To have the leader of the largest GDP country in the world come out and say that he wants to be the first crypto president, it's a big deal."
Armstrong believes that legislation currently being considered by Congress will further boost investment in cryptocurrencies. He also noted that Bitcoin's recent record high was partly due to the anticipation of Trump's inauguration.