US Elections - what impact on crypto?

While AmaZix maintains a politically neutral stance, our global team collectively understands two things: One, is that whatever the outcome of the elections is, the winning candidate will always want to ‘print to infinity’. And the second is that it is clear that one of two candidates is friendly towards crypto, and the other had a fairly neutral stance that doesn’t inspire confidence.

Trump has notably shifted from his earlier scepticism towards cryptocurrencies. His recent support of digital assets include accepting them for campaign donations, helping him raise a total ascending to hundreds of millions. Trump even declared he’d make the USA “the crypto capital of the world.” He has explored blockchain by creating NFTs, and more recently, by announcing his new DEFI protocol - World Liberty Financial. He would also go on to propose a national Bitcoin reserve. Interestingly, Trump also hinted about removing the Federal Reserve President, and you might guess that man's response to Trump. Jerome Powell hinted that the President of the United States, and the Federal Government as a whole “have no power here.”

It’s worth noting that the Federal Reserve is neither Federal, nor has a reserve. Jerome Powell doesn’t represent the people, nor he’s an elected official. Jerome works for a private institution that lives outside the power of the federal government, or any agency. And yes, the government has given this very same “Federal Reserve” the ability to control monetary policy.

As Bitcoiners, we know how to live outside the dollar. 1 BTC = 1 BTC. However, we cannot ignore that Bitcoin today is at around $82,000 American Dollars, which is a statement in itself. This comes after a considerable period of price stagnation. This bull run is rekindling interest in both valuable product and memecoin, and even DeFi is seeing a resurgence. A sense of newfound energy is permeating the space. 

The future looks bright for crypto. And we are seeing many great releases in the last couple of weeks. One of the highlights is Phaver, who’s done an app overhaul following its token launch, to Carbon’s new deployment. It is inspiring to see teams launching products they developed during the bear market. The question is, will it be enough to compete with the appeal of meme coins and viral trends? There may be enough space for everyone…

And, we believe there is. Yes, Online gambling is fun, however, beyond speculation, there are vital use cases for blockchain tech. However, one must wonder if shifting attention spans and new developer strategies are influencing user expectations. Beyond this, we wonder if users know value extracting teams are everywhere, or if they’ll continue falling prey to scams.

AmaZix has observed that delays will not be tolerated by any community. Trying to time the market will do more harm than good, and the circles that matter see it as parasitic. We believe we are in a window of opportunity for new launches. And regardless of this election’s results (or future elections, for that matter), crypto will continue to thrive amid uncertainty. Crypto assets have already proven their resilience, and they are here to stay.