Crypto – the upcoming future of global economy
Due to the crypto executive order that Biden signed on Wednesday, the crypto community becomes more and more confident about the upcoming future of these immature virtual assets and blockchain technology.
“Digital assets, including cryptocurrencies, have seen explosive growth in recent years, surpassing a $3 trillion market cap last November and up from $14 billion just five years prior. Surveys suggest that around 16 percent of adult Americans – approximately 40 million people – have invested in, traded, or used cryptocurrencies,” the White House’s fact sheet revealed.
“That is why today, President Biden will sign an Executive Order outlining the first-ever, whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology,” it stated.
CEO of Galaxy Digital Mike Novogratz has claimed that crypto and public blockchains will reshape the world. He described Biden’s executive order as a “welcomed engagement from the administration,” which could create an opportunity for the US to become the financial leader in the digital asset decade.
This isn’t the first time Novogratz has made a statement like this. He suggested last year that digital assets are the financial network’s future. He was against central banks and treasury departments printing massive amounts of fiat currency during the pandemic, thereby boosting inflation rates. People, on the other hand, require hard assets like real estate, gold, and crypto to protect themselves against the negative effects of mass printing, he claimed.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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