By CentBit.Online – Crypto & Blockchain Expert, Bangladesh
As Bitcoin’s momentum continues to grow, Kristin Smith, CEO of the Blockchain Association, shared insights on CNBC’s Squawk Box on December 26, highlighting a significant rise in interest among people wanting to hold more Bitcoin. This trend comes amid speculation about regulatory changes under President-elect Donald Trump, who is preparing to take office.
Bitcoin’s Rising Popularity
During her appearance, Smith emphasized the increasing demand for Bitcoin as a store of value. “People are looking to hold more Bitcoin, not less,” she stated, pointing to a shift in sentiment fueled by leadership changes in the U.S. government.
Smith noted that a crypto-supportive administration could provide a critical boost to the industry:
“Having that change of attitude at the top, having a president who says, ‘Hey, we want the U.S. to be the capital of this industry, we want to fight for you,’ makes a tremendous amount of difference.”
Trump’s Crypto-Friendly Agenda
Donald Trump, who recently launched his family’s cryptocurrency platform, World Liberty Financial, campaigned on promises of enacting regulations supportive of the blockchain and crypto sector. His stance has aligned with the aspirations of many crypto leaders seeking clear oversight to foster innovation while ensuring transparency.
“They want to have a government with some oversight to ensure there aren’t conflicts of interest, that things are running smoothly, and that there isn’t any funny business at that level,” Smith added.
Bitcoin Hits Historic High Amid Optimism
Bitcoin’s price recently surged to an all-time high of $108,000 following Trump’s election victory, fueled by anticipation of crypto-friendly regulations and the potential establishment of a U.S. Bitcoin reserve. While the price has since stabilized, the sentiment surrounding Bitcoin remains overwhelmingly positive.
At the Bitcoin 2024 Conference, Trump remarked:
“We will have regulations, but from now on, the rules will be written by the people who love your industry, not hate your industry.”
Trump’s proposed restructuring of federal agencies overseeing digital assets and the recent approval of spot Bitcoin ETFs have drawn attention from traditional finance players, further validating the cryptocurrency’s growth trajectory.
A Bright Future for Bitcoin
Smith predicts that Bitcoin’s appeal will continue to expand, with more financial advisors recommending it to retail clients. “As more people learn about Bitcoin, we’ll see increasing adoption,” she said.
The path forward for Bitcoin under Trump’s administration is yet to be fully defined, but optimism within the crypto community is palpable.
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