Brian Armstrong, the CEO of Coinbase, has disclosed his observations regarding the growing fascination with cryptocurrency among conventional financial institutions.
Armstrong maintains that the crypto sector is on the brink of a substantial increase in investment from major financial institutions, following his recent attendance at the World Economic Forum in Switzerland.
Armstrong observed that the investments of major banks, asset managers, and payment firms in crypto are increasing at a rapid pace. He claimed that the global financial landscape will inevitably change as these corporate titans increase their involvement in digital assets. He emphasized that the increased competition within the crypto market will be a positive development for the industry, as a result of the influx of corporate investment.
Armstrong identifies President Donald Trump’s crypto-friendly policies as one of the primary factors contributing to this transformation. He emphasized the potential establishment of a national Bitcoin reserve, a concept that is acquiring traction among key stakeholders. Armstrong also observed that Trump’s posture on artificial intelligence and crypto was a significant topic of discussion at the event, with numerous executives anxious to comprehend how they could align with the new administration’s digital finance vision.
Armstrong also indicated that the recent executive order signed by President Trump to investigate the establishment of a national Bitcoin and crypto reserve has rekindled interest in the sector. The order establishes a working group that is responsible for the development of a regulatory framework for crypto in the United States. This action has the potential to result in substantial policy changes over the next few months.
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