Donald Trump's presidency is shaping up to be a watershed moment for the cryptocurrency industry, with many of his cabinet picks boasting pro-bitcoin and pro-crypto stances.
Host of The Wolf Of All Streets, Scott Melker, and Co-host of Altcoin Daily, Austin Arnold, sat down to discuss the implications of Trump's pro-crypto policies and the promising signals emanating from his administration.
"Every person he puts into nearly every position, whether it's a financial position or not, has already previously been pro bitcoin or pro crypto," said Scott Melker, highlighting the consistency of Trump's appointments. Arnold echoed this sentiment, calling it "a new paradigm shift" for the U.S. government. He noted that Trump's donors and cabinet members are overwhelmingly supportive of bitcoin, with some even owning it personally, including new crypto czar David Sacks, who has a history of advocating for bitcoin and even investing in Solana.
Arnold also pointed to Eric Trump’s recent speech at bitcoin Conference MENA, where he predicted bitcoin's value could reach a million dollars. "Pay attention to that," Arnold urged, suggesting that Eric Trump’s confidence reflects inside knowledge of the administration's plans. He also remarked on the broader government landscape, stating, "The vast majority of the House are pro crypto, and more members of the Senate are pro crypto."
Melker speculated on the possibility of a strategic bitcoin reserve for the United States. "Imagine the pressure that would put on every central bank on the planet to add it as well," he said, suggesting such a move could send bitcoin’s price soaring to unprecedented heights. Arnold agreed, calling bitcoin "digital real estate" and positing that Trump, a real estate mogul, might view bitcoin as his next big acquisition.
The conversation also touched on how Trump's administration could usher in the most crypto-friendly regulatory environment in history. "We're certainly going to have a much friendlier set of regulators," Melker noted, listing key agencies like the SEC, Treasury, and CFTC as potential allies in the crypto space.
"Things are looking good," concluded Melker. Arnold agreed, emphasizing the potential for "the greatest cryptocurrency bull run of all time" under Trump's leadership.