Hunter Horsley, CEO of Bitwise Asset Management, has highlighted the potential for the economic policies of the incoming Donald Trump administration in the United States to influence the cryptocurrency industry significantly.
In a recent tweet, Horsley pointed out that the potential deregulation of mergers and acquisitions under the Trump administration could enable tech giants like Google and Amazon to grow further through strategic acquisitions. Mergers and acquisitions involve the consolidation of companies, achieved either through business mergers or acquiring one company by another. This strategy enables corporations to expand market share, achieve economies of scale, or secure valuable assets.
Horsley suggested that increased corporate consolidation could amplify the appeal of decentralized systems, resonating with cryptocurrency’s fundamental principle of challenging centralized authority. He believes that as corporate dominance expands, the appeal of cryptocurrencies, which provide an alternative to centralized control, could increase significantly.
These comments come amid growing interest from tech giants like Google and Amazon in blockchain technology and digital assets. These companies have been exploring different ways to solidify their presence in the cryptocurrency market. Amazon Web Services recently launched Amazon Managed Blockchain, a platform enabling companies to build and manage scalable blockchain networks efficiently. Google has also been offering Blockchain-as-a-Service through its Google Cloud platform; crypto projects are using it to develop and easily deploy their dApps
Meanwhile, the crypto community has been very optimistic about Trump’s return to the White House. The former president and now president-elect had made big promises to help the industry grow and become fully legitimized in the U.S. His appointment of David Sacks as the first-ever “crypto czar” has further fueled the optimism. Executives from leading cryptocurrency firms in the county, including Ripple, Kraken, and Circle, are reportedly competing for seats on a proposed crypto advisory council.
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