Bitcoin: Why Donald Trump’s Arrival Changes Everything for the Crypto Sector ?

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Present this Tuesday at the World Economic Forum in Davos, Switzerland this week, Brian Armstrong, CEO of the Coinbase exchange platform, did not hide his optimism for the cryptocurrency sector following Donald Trump's rise to power. Here is what to remember from his speech.

The leader begins on an almost lyrical note and believes that the Republican's presidency triggers “the dawn of a new day” for this industry. Quoted by BFM, he continues: “I would say it's the dawn of a new day. It should be remembered that the last four years in the United States, the environment was very hostile”.

And the CEO added:

I think the lack of clarity has been instrumentalized and some people in government have tried, I think, to hamper or kill the industry. I think we have a path to having clear rules. And I hope we get legislation through Congress that brings a lot of new investment.

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According to Brian Armstrong, the industry “is still in its infancy” and is slowly opening up: “The largest financial services companies in the world, every fintech, and many neobanks are all integrating crypto”. Enough to modernize the entire financial sector, according to him, and ” make it faster, cheaper and more efficient “.

Donald Trump, the “crypto president” ?

As a reminder, Donald Trump launched his own cryptocurrency on the eve of taking office. The price of this memecoin literally soared to over 70 euros before falling back to around 40 euros at the time of writing. This initiative raises many ethical questions and does not fail to raise questions, as we explained to you at the beginning of the week.

In any case, the American president promised to make the United States ” the world capital of cryptocurrencies “. He has put his words into action by appointing supporters of the sector to key positions in the new American administration. The billionaire would even consider creating a federal reserve where he would store certain cryptocurrencies like Bitcoin.

Finally, let us point out that Donald Trump is not averse to contradiction on this subject. In 2019, he explained: “I am not a fan of bitcoin and other cryptocurrencies, which are not money and whose value is very volatile and based on nothing. Unregulated cryptoassets can facilitate illicit behavior, including drug trafficking and other illegal activities.”.

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