In the United States, Joe Biden, who is elected president, is expected to be on the economic team, and the two members can support both the Bitcoin (BTC) and cryptocurrency community.
Lael Brainard, who is expected to serve as Biden’s treasury secretary, made many statements regarding both blockchain and digital assets during his tenure as a Federal Reserve Board Member.
Brainard talked about cryptocurrencies, central bank digital currencies (CBDC), smart contracts and blockchain in a statement.
“Bitcoin is emerging as a form of digital money that will gradually reduce friction in payments and can act as a store of value without being tied to a center.”
If there is support from Joe Biden’s economy team for Bitcoin and the bulk cryptocurrency market, both the reliability and acceptability of the leading cryptocurrency will increase. The fact that institutional players are more involved in the crypto money market will have a positive effect on the future of cryptocurrencies, which are seen as the future globally.