- Donald Trump, previously against cryptocurrencies, now supports them, even promising to be the “Crypto President”.
- Samson Mow of Pixelmatic views Trump’s policy shift on crypto as a pivotal moment that will influence global discussions.
- Media and analysts focus on Bitcoin’s potential, linking its strength to recent positive developments in digital currency markets.
While presidential hopeful Donald J Trump has previously been a staunch crypto opponent, the last few weeks and months have shown a seeming shift in his opinion on the nascent asset class.
Related: Aussie Crypto Podcast Highlights Altcoins with Future Growth, Where Does Bitcoin Go From Here?
Recently, Trump has not only made a 180-degree shift to support Bitcoin and Co., but also declared he would be the ‘Crypto President’ if elected, providing undecided crypto enthusiasts a clear voting option.
But just how relevant is that recent shift in Trump’s stance on crypto?
Well, if you believe the CEO of Pixelmatic, Samson Mow, it’s a big deal.
Mow said most people still don’t understand the gravity of the policy shift.
This isn’t a partisan thing or even about whether promises will be kept. This a shift in discourse that precedes nation-state competition to achieve Bitcoin dominance.
Samson MowTrump’s Policy Change Will Be Discussed Behind Closed Doors, Says Mow
Mow, telling his nearly 300,000 followers on social platform X, stated he is certain that Trump’s warming to the crypto sector will “be discussed behind closed doors by governments around the world”.
Mow said mainstream media is already increasingly reporting on crypto, especially on Bitcoin and Ethereum and around the exchange-traded funds (ETFs), which have been huge developments of recent times.
He also pointed to recent developments around the ICBC. The Industrial and Commercial Bank of China (ICBC) released a detailed analysis focusing on the fast development and increasing variety of digital currencies.
The report likened Bitcoin to gold and called Ethereum “digital oil.” It highlighted historian Yuval Noah Harari’s idea that human imagination and belief significantly contribute to the rapid expansion and diversification of digital currencies.
Related: Aethir Launches Decentralised Cloud Network on Ethereum, Pioneering DePINs for Web3 Evolution
Stick With Winners, Avoid Others, Recommends Analyst
In light of the recent unchanged interest rates, 10X Research founder Markus Thielen threw his support behind Bitcoin, saying it’s the best asset to invest in and it will soon continue its rally.
Our recommendation remains unchanged: to stick with the winners (Bitcoin) and avoid others (such as Ethereum). Our previous analysis has shown that a lower CPI number tends to lift Bitcoin prices, and we anticipate this trend will continue.
Markus ThielenCredit: Source link
