How Will Trump's Second Presidency Affect Bitcoin and Cryptocurrencies? Coinbase CEO Explains!

Even though Donald Trump did not mention Bitcoin (BTC) and cryptocurrencies in his first speech, his official inauguration as president was met with great enthusiasm in the cryptocurrency world. While the number of people expecting positive change in the cryptocurrency sector increases with the inauguration of Trump, Coinbase CEO Brian Armstrong evaluated Donald Trump's inauguration and its effects in his speech at the World Economic Forum in Davos. Speaking to CNBC's Squawk Box program in Davos, Coinbase CEO said that Trump's second term as US president will attract a lot of investment in cryptocurrencies. Armstrong, who stated that Trump's two administrations could introduce new rules for cryptocurrencies in the US, said that crypto legislation to be passed by Congress could pave the way for major investments: “The Trump effect is undeniable. The fact that the leader of the country with the largest GDP in the world has undeniably come out and said he wants to be the first crypto president is very positive for Bitcoin and cryptocurrencies. The industry is ready for this new change, ready for clear rules. And our next big move is to ensure that some laws are passed in the US to make this even clearer. At this point, cryptocurrencies in the US will now be regulated by new rules and new investments will come to this area with the laws that will be passed by Congress. Armstrong also noted that Bitcoin's recent rise to an all-time high was largely due to Trump's inauguration, adding that former US President Joe Biden and his administration created a hostile environment for cryptocurrencies. *This is not investment advice. Continue Reading: How Will Trump's Second Presidency Affect Bitcoin and Cryptocurrencies? Coinbase CEO Explains!