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Blockchain Association CEO Kristin Smith informed CNBC’s Squawk Box on Thursday that individuals are increasingly inclined to hold more Bitcoin as the new year approaches and President-elect Donald Trump is set to assume office.
Blockchain Association CEO Kristin Smith
In her appearance on December 26, Smith suggested that the rising interest in Bitcoin and the potential accumulation of Bitcoin reserves could serve as favorable indicators for its future.
“Having that change of attitude at the top makes a tremendous amount of difference,” says @KMSmithDC on Trump’s pro-crypto leadership picks. “We’ve got to strike while the iron is hot here, we need to work on getting the appropriate legislation done.”https://t.co/t0uJLrJpI9
— Squawk Box (@SquawkCNBC) December 26, 2024
“People are looking to hold more Bitcoin, not less,” Smith stated. “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, who recently introduced his family’s crypto platform World Liberty Financial, primarily campaigned on implementing crypto-friendly regulations upon his return to the Oval Office – a strategy that Smith highlighted aligns with the aspirations of significant players in the crypto sector.
“They want to have a government with some oversight to ensure there aren’t conflicts of interest, that things are running smoothly, that there isn’t any funny business at that level,” Smith added.
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The remarks from the trade association leader come as the cryptocurrency created by Satoshi Nakamoto experiences a cooling in value following a post-election rally that propelled the coin to an all-time high of $108,000.
The expectation of a United States Bitcoin reserve and Trump’s ambition to establish a crypto-friendly regulatory environment appear to have spurred the cryptocurrency’s impressive growth.
“We will have regulations,” Trump remarked at the Bitcoin 2024 Conference this past summer, further stating, “but from now on, the rules will be written by the people who love your industry, not hate your industry.”
Trump’s anticipated reorganization of the federal agencies responsible for overseeing digital assets and the recent approval of spot Bitcoin ETFs have contributed to what seems to be an increasing interest in crypto investments from the traditional finance sector.
“You have a lot of people who are learning about Bitcoin for the first time and I think that as more and more retail financial advisors are advising their clients to do this, I think we’re going to see more people coming into Bitcoin,” Smith continued.
However, it remains uncertain how exactly Trump’s administration will influence the regulatory landscape of Bitcoin and its mainstream appeal.
The post People Want To Hold More Bitcoin, Blockchain Association CEO Kristin Smith Says appeared first on Cryptonews.
