Following the results of the US Presidential election, Bitcoin bulls have taken charge as the value of the world’s most popular crypto has rocketed higher—today, it is trading at around $90,000 after topping out at over $93,000 yesterday (11.13.24)—a new all-time record.
CI received a comment from Paolo Ardoino, a digital asset entrepreneur who is CEO of both Tether and trading platform Bitfinex. Ardoino believes the uptrend is partly fueled due to rising institutional interest as they move into digital assets.
Ardoino had this to say:
“Bitcoin is actually a complete pivot from everything that we had in our lives and every form of money that we had in our history,” said Ardoino. “Bitcoin will always be there for your family in the worst-case scenario. I’m really obsessed about the concept of everything that we have in our life is built for the best-case scenario and will fail in the worst-case scenario.”
He added that there is one certainty, and that is math:
“You can prove math as you can prove that Bitcoin will stay like that forever and no one can change it, and you can prove that no one can cheat. For the first time in your life, you don’t have to depend on anyone, you don’t have to trust anyone. That is the only thing that will be there for you when you need it the most.”
Expectations are that a Trump administration will embrace digital asset innovation and approve clear rules for digital assets – unlike the Biden administration which was hostile towards digital assets. This policy shift may re-ignite the digital asset sector which has seen innovation diminish with some firms calling a halt and others decamping to more friendly jurisdictions. We will know more in 2025.
