According to Cointelegraph, recent political appointments in the United States have generated significant enthusiasm within the crypto community, likened to a "space race" for digital assets. Ari Redbord, head of legal and government affairs at TRM Labs, expressed this sentiment during an appearance on CNBC's Squawk Box on January 6. Redbord highlighted that the US is now positioned to either keep pace with or surpass global advancements in the digital asset sector.
Redbord, a former prosecutor, noted that several pro-crypto figures have been appointed to key positions in US federal agencies since Donald Trump's election victory. He emphasized the importance of these appointments, stating, "The people are the policy." Among the notable appointments are hedge fund manager Scott Bessent as Treasury Secretary, Paul Atkins as Chair of the Securities and Exchange Commission, and venture capitalist David Sacks, who has been designated as the White House "crypto czar." Redbord observed that these appointments reflect a broader support for digital assets, innovation, and artificial intelligence within the US government.
Beyond Bitcoin, Redbord expressed excitement about the broader adoption of digital assets, citing examples such as fintech companies like Stripe and Cash App utilizing stablecoins for large-scale payments. He noted that while Bitcoin has traditionally been viewed as an investment or store of value, its use is expanding into areas like cross-border payments and remittances. When asked about Bitcoin's future price, Redbord refrained from providing a specific prediction but suggested that it could rise "significantly higher," driven by incentives like a strategic Bitcoin reserve in the US and potentially other countries.
Market analysts share a similar outlook, with many predicting an upward trajectory for Bitcoin. On January 7, crypto trader 'Daan Crypto Trades' informed his 396,000 followers on X that Bitcoin is entering a "price discovery phase," a process where buyers and sellers determine an asset's spot price based on demand and supply dynamics.
