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Highlights
- Coinbase CEO Brian Armstrong expressed confidence that the Trump Administration will boost investments in crypto.
- His comment at the World Economic Forum at Davos emphasized Bitcoin achieving ATH.
- The CEO also anticipates increasing investments into crypto industry under Trump administration.
Coinbase CEO Brian Armstrong has expressed his confidence in the Trump Administration and remained bullish on the crypto market future. Armstrong attended the World Economic Forum at Davos where he participated in a panel discussion. One key highlight underlined by the exchange CEO was Bitcoin achieving its all-time high value in recent hours.
Brian Armstrong Bullish About Crypto Investments
Coinbase CEO, Brian Armstrong, participated in a panel discussion of the World Economic Forum that happened in Davos. He said that the second term of Donald Trump is very likely to bring investments in crypto, adding that his effect on the crypto market is undeniable. Brian Armstrong has based his confidence in the Trump Administration after Donald Trump said that he wanted to become the first crypto president.
‘To have a leader of the largest GDP country in the world come out undeniably and say that he wants to be the first crypto president”, Brian said. He then added, as per a report by Reuters, that it would be Legislation in Congress that would bring a lot of new investments to cryptocurrencies. Coinbase CEO emphasized that the recent ATH in the value of Bitcoin was largely due to the inauguration of Donald Trump.
His comments come despite the rising uncertainty and volatility in the crypto market. Also, there was no key executive crypto order mentioned on the first day of Donald Trump as the US President.
Market Sentiment Remains Mixed
The highest that the Bitcoin price reached in the last 24 hours was $107,663.3 before retracing back to $104,130.85, which is still an increase of 149.49% over the past year. BTC prices have been gaining traction since the announcement of the US Presidential election results in November last year. Besides, the recent comment from the Coinbase CEO has further fueled market sentiments.
DOGE is another cryptocurrency that has gained significant upticks since November last year. Dogecoin tokens were trading around $0.1931 before they climbed to 0.3759, up by 330.26% over the past year. Most notably, it is the TRUMP meme coin which is making rounds across the crypto market. The Solana meme coin has gained 445.73% since its launch and is exchanging hands at $37.24. It is now speculated that the TRUMP meme coin may breach $54 milestone.
World Economic Forum at Davos
World Economic Forum at Davos is largely a gathering of influential personalities from several industries, allowing them to expand their networks and share their insights. Apart from the Coinbase CEO, speakers that are expected to share their thoughts are David Rubenstein, Ray Dalio, and others.
Donald Trump is also expected to make an appearance through video conference. The statement from Coinbase CEO Brian Armstrong at such a huge platform has sent signals that there is certainly a reason for the crypto community to stay bullish about its future. However, it is still recommended to consider risk and volatility before investing in cryptocurrencies.
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