The United States is poised for a successful cryptocurrency future! While this sounds impressive, many analysts caution against euphoria and recommend carefully weighing the pros and cons of such an approach.
Marathon Digital CEO Fred Thiel stresses the importance of considering the political landscape of Bitcoin ahead of the US presidential election. According to him, the Biden administration has been skeptical and cautious towards the first cryptocurrency and other digital assets. However, this view seems to be changing, which can be attributed to 55 million voters interested in cryptocurrency.
Thiel highlights the potential impact of the upcoming presidential election on the crypto industry in the country. He points out that Donald Trump is supportive of BTC, which could have a positive impact on the sector. "Former President Trump has obviously positioned himself as the candidate that is pro-bitcoin (BTC-USD). He believes that all bitcoin should be mined in the US and has been very open in his relationships with bitcoin miners and people in the space," the head of Marathon Digital said.
As for the current president, "the Biden administration has been very hostile to Bitcoin." However, that stance has softened recently. Thiel acknowledges a thaw in the Biden administration as the White House realizes "there are 55 million voters in this country who care about crypto." "Bitcoin serves the needs of everybody. It doesn't have any political color to it. We think both parties should embrace it. And in Congress, we've already seen the Democrats in both the Senate and the House of Representatives embracing bitcoin and crypto legislation," the entrepreneur added.
The expert is convinced that the future of the crypto industry is a bipartisan issue that is crucial for both presidential candidates.
