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Home News Trump’s Opposition to CBDCs: A Potential Catalyst for Bitcoin’s Growth

Trump’s Opposition to CBDCs: A Potential Catalyst for Bitcoin’s Growth

by Barbara

As the cryptocurrency sector evolves, industry experts are examining factors that could spur the next major market surge. In a recent Roundtable discussion, anchor Rob Nelson engaged with David Duong, Head of Institutional Research at Coinbase; Jon Najarian, Co-Founder of Market Rebellion; and Aaron Arnold, Host of Altcoin Daily. The dialogue explored the impact of emerging blockchains, political influences on Bitcoin, and promising investment opportunities in the crypto arena.

Nelson initiated the conversation by probing the excitement surrounding various blockchain technologies and the forecasted rise in cryptocurrency markets. Duong highlighted a renewed interest in Layer 1 and alternative Layer 1 (ALT L1) blockchains, citing Solana’s technological strides despite the setbacks from the FTX collapse. However, he affirmed that Ethereum continues to lead in decentralized finance (DeFi), with Bitcoin and Ethereum remaining the top choices for institutional investors.

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Duong pointed to recent ETF launches as a pivotal development, predicting that these will attract significant institutional investment. “Bitcoin and ETH remain the primary assets to monitor,” Duong stated, noting that traditional finance continues to center its research on these cryptocurrencies. He speculated that a comprehensive ETF encompassing Bitcoin and Ethereum could soon materialize, potentially enhancing their price performance.

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Najarian then addressed the influence of central bank digital currencies (CBDCs) on Bitcoin, noting that former President Trump’s strong opposition to CBDCs could bolster Bitcoin’s value. “Trump’s resistance to CBDCs might be contributing to Bitcoin’s rise,” Najarian observed, suggesting that political dynamics significantly impact the cryptocurrency markets.

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When asked for investment recommendations, Najarian expressed confidence in Coinbase, praising its reliability and performance. “I favor Coinbase for its public trading status and solid track record,” Najarian said, emphasizing that his endorsement was based on the exchange’s stability rather than risk factors.

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Arnold shared his perspective on promising lower-cap cryptocurrencies with substantial potential. He highlighted Solana, Chainlink, Injective, Sui, and Ondo Finance as assets with significant utility and institutional ties. “We remain optimistic about various aspects of the crypto space, from tokenization to Layer 2 solutions and gaming,” Arnold remarked, underlining the broad opportunities within the cryptocurrency market.

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