Circle CEO: Biden administration could see bitcoin grow…

Quick take

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• Jeremy Allaire has just recently said that the Biden Administration will eventually warm up to the idea of cryptocurrency and potentially start a crypto focused growth strategy in the future.

• As the Circle founder, Jeremy gave his views in a tweet which backed up his opinions during an interview with squawk box, CNBC.

Jeremy Allaire, the chief executive officer of Circle has just recently said that the Biden Administration will eventually warm up to the idea of cryptocurrency and potentially start a crypto focused growth strategy in the future.

As the Circle founder, Jeremy gave his views in a tweet which backed up his opinions during an interview with squawk box, CNBC.

During the interview, the CEO gave his opinion that the technology behind cryptocurrency is going to present a “paradigm change“ that will greatly benefit the globe. Essentially, Jeremy is indicating that the growth of crypto-based technologies is an unstoppable force that will become mainstream inevitably one way or another.

"They will ultimately be supportive because this is an infrastructure change as big as the initial commercial Internet," says @jerallaire on his outlook for how the Biden Administration will handle #crypto #bitcoin pic.twitter.com/NiVoeVEziY

— Squawk Box (@SquawkCNBC) December 7, 2020

Last month, Joe Biden went head-to-head against the current president of the United States, Donald Trump. Despite contesting the results even to this day, Biden came out on top of the election and will enter the White House next month.

Jeremy believes that the Biden administration is going to make specific moves to make sure that the United States is in the best position it can be in order to seek the benefits of new technologies such as blockchain and crypto.

Of course, regulation is a big issue, not just for the United States but for countries all over the globe. For the most part, the crypto industry is unregulated which has been a large talking point for many critics taking digs at the assets.

The CEO went on to admit that regulation is a big issue to think about and is very tricky to get around. This is because it involves numerous markets and industries as well as other factors.

Interestingly though, the CEO gave his optimistic side saying that the next president will be able to reach common ground that will allow the crypto industry to grow massively over the next few years alongside the banking sector.

As a result of this, it will greatly benefit the economy and the future of how we work and live.

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