TRM Labs executive: The enthusiasm for cryptocurrencies in the US during Trump’s administration is similar to the “space race”

Ari Redbord, head of legal and government affairs at TRM Labs, said that the enthusiasm for cryptocurrencies in the United States during President-elect Trump's term is similar to the space race. In an interview with CNBC's Squawk Box, Redbord mentioned that "people are policy" and emphasized that Trump's cabinet nominees so far are all supportive of cryptocurrencies, such as Paul Atkins' appointment as the new chairman of the U.S. SEC and David Sacks' appointment as "crypto czar". He added: "This enthusiasm, I think is a rhythm, almost a space race, and the United States has now been able to keep up with the rest of the world and even surpass the rest of the world." With Bitcoin breaking the $100,000 mark again on January 6, Redbord said that positive policy shifts, such as establishing a strategic BTC reserve in the United States, will promote value creation for the asset. He also expressed excitement about the widespread use of blockchain technology in the United States, citing the example of fintech companies such as Stripe using stablecoins for payments. While investors view Bitcoin as a comprehensive store of value, Redbord said that the expansion of blockchain applications in financial transactions will boost the growth of the crypto industry. Redbord did not share a specific price target for Bitcoin, but he said that Bitcoin will "rise significantly" driven by the United States building a strategic Bitcoin reserve.