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Circle CEO certain Biden administration will support Bitcoin

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TL;DR

  • Circle CEO believes Biden’s government is good for BTC
  • Max Keiser made similar prediction earlier
  • Allaire speaks about Stablecoins, CBDCs

Jeremy Allaire, Circle CEO, has expressed belief that incoming American president tenure Joe Biden would support Bitcoin and other cryptocurrencies.

According to the Circle CEO, the administration would be “ultimately supportive” of cryptocurrencies. Allaire asserted Biden’s support in an interview with CNBC Squawk Box while speaking on how the incoming administration would regulate cryptos.

In Allaire’s analysis, he stated that Biden’s government would focus on infrastructure changes that make America more competitive, and crypto would have a pivotal role in that.

The Circle CEO noted that both the Republicans and Democrats misunderstand crypto. However, some moderates are ready to develop the sector constructively.

Keiser also believes Biden administration good for crypto

Max Keiser has previously predicted a rapid surge in Bitcoin price if Biden becomes America’s president.

Keiser explained that if Biden wins, his tenure would be filled with corruption where Bitcoin would thrive. The Wall Street veteran foresees Bitcoin boom under Biden as people would buy Bitcoin that won’t be confiscated.

Keiser predicted that if Trump becomes president again, there will be a more orderly Bitcoin tradition. It will – most likely – make the crypto price surge slowly.

What Circle CEO thinks about USDC and CBDCs

Allaire, during the interview, also spoke about stablecoins and Central Bank Digital Currencies (CBDC). He stated that as central banks still conduct their research for CBDCs, private firms like Circle are already implementing existing stablecoin as a way of transferring money.

He said what is necessary is seeing in the next two to four years if standards developed by private fintech firms meet the safeguarding level central banks aim to reach and control they aim to have.
However, the circle CEO did not comment about a recent bill debated at the congress requiring firms like Circle and others that issue stablecoin to get a bank charter and meet regulatory demands before circulating stablecoins.

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Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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