So .... the dollar, stocks, mutual funds, gold -- out the window???
U.S. can become a crypto superpower with ‘sensible’ regulation, Eric Trump saysU.S. can become a crypto superpower with ‘sensible’ regulation, Eric Trump says
A set of “sensible” regulatory guidelines can help make the U.S. a cryptocurrency superpower, according to Eric Trump, executive vice president of the Trump organization and son of president-elect Donald Trump.
Speaking to CNBC’s Dan Murphy in Abu Dhabi, United Arab Emirates, Eric Trump said Monday that he’d been a “big fan of crypto for a long time” and his father intends to “make America the crypto capital of the world” on his return to the White House.
His comments come shortly after the price of bitcoin, the world’s largest cryptocurrency, climbed above $100,000 for the first time.
The highly anticipated milestone was hailed as a landmark moment for digital assets, with investors increasingly confident the new U.S. administration will seek to cement the crypto industry’s place in financial markets.
Bitcoin, which is up a whopping 137% year-to-date, has since dipped back below the six-figure mark. The flagship digital currency was last seen trading at around $99,808.62, according to Coin Metrics.
“The modern banking system is antiquated. It’s just a matter of time before crypto not only catches up, but just really leaps ahead. And so, we’re incredibly excited on a lot of fronts,” Eric Trump said.
“I think America will be the crypto capital of the world. I fully support it. My father fully supports it. Our family, you know, is fully embracing it. We believe in DeFi ... We believe that’s the way of the future. And again, America, you know, better lead the way, otherwise we’re going to leave a lot behind,” he added.
DeFi refers to decentralized finance, a system of applications that aim to recreate traditional financial instruments with cryptocurrency.
