The crypto landscape is going through historic times, as crypto goes mainstream and corporate and political adoption is peaking especially in favor of Bitcoin. Republican policymakers, including former President Donald Trump, have called for more transparent regulation of the crypto market. In fact, while in office he proposed establishing a national Bitcoin reserve. Coinbase CEO Brian Armstrong has been extremely bullish on Bitcoin. He thinks it has a chance to be the world’s reserve currency. These endorsements arrive at a time when large, globally influential corporations — and even some governments — are starting to adopt Bitcoin as key components of their financial playbooks.

Trump's Stance on Crypto

Donald Trump has recently emphasized the need for the U.S. to establish itself as a leader in the digital asset space. He has been a proponent of “clear and simple market frameworks” to create an environment that nurtures innovation and growth in the crypto sector.

"many have called me the ‘first crypto President.’ That’s an honor. I really do consider that a very big honor, actually." - Donald Trump, The Globe and Mail

During the roundtable, Trump repeatedly touted his administration’s past efforts to promote cryptocurrency. In particular, he noted the establishment of a presidential working group on digital assets and the appointment of an SEC chair who is favorable to innovation.

"I created the first presidential working group on digital assets, I named a pro-innovation, pro-freedom SEC chair… and we created the U.S. strategic Bitcoin reserve." - Donald Trump, The Globe and Mail

In addition, Trump drew attention to the Genius Act, which is still making its way in Congress. This legislation aims to promote the introduction of dollar-backed coins. He also teased out future, crypto-focused projects. As he put it, “We’re not finished,” a demonstration of just how serious his commitment to the crypto space is.

Armstrong's Bullish Outlook on Bitcoin

Brian Armstrong, the CEO of Coinbase (COIN), has emerged as a vocal proponent of Bitcoin and the broader crypto ecosystem. Take a look at his recent statements and you’ll see an unwavering faith in the transformative power of digital currencies. Armstrong has been the most bullish on Bitcoin of all on Ripple’s long-term chances.

"Bitcoin could be the reserve currency of the world." - Brian Armstrong, The Globe and Mail

Let’s get crypto trading, innovation and jobs all back to the USA,” tweeted Armstrong. He is deeply committed to developing a robust domestic crypto industry.

Institutional Adoption and Global Trends

The past year has seen a notable increase in institutional interest in Bitcoin, with several major entities adding the cryptocurrency to their balance sheets. Together, GameStop, Trump Media, and MicroStrategy have put billions into Bitcoin. This is a testament to their increasing belief in Bitcoin’s future value, whether it be as a store of value or an investment asset.

Meanwhile, some states within the U.S. are vigorously pushing legislation to add Bitcoin to their treasury reserves. Similar to the corporate adoption, they are accomplishing this through pilot programs and proposed legislation. Today, many countries across Latin America, Africa, and Eastern Europe are on the verge of adding Bitcoin to their sovereign treasuries. This move is part of a larger international development – countries around the world increasingly are accepting and integrating digital currencies into their national financial strategies.