The CEO of a major cryptocurrency index fund company expressed confidence in the impact of economic policies on the digital assets sector when Donald Trump officially returns to the White House this month.
Bitwise Asset Management CEO Hunter Horsley recently offered some interesting insights into how the Trump administration could transform the cryptocurrency industry.
Deregulation of M&As
Horsley believes that the policies that will be implemented by the Trump administration may propel the cryptocurrency sector to new heights, especially to liberalize mergers and acquisitions, saying that it may allow large American companies to expand their business through strategic acquisitions.
The CEO of Bitwise thinks that President-elect Trump may “liberate” mergers and acquisitions, a welcome development for the country’s largest companies to improve the quality of their business.
“The big companies – mag 7, etc – may finally be able to tap into their market,” Horsley said.
He also pointed out that, for example, the retail giant Amazon could acquire Instacart, or the search engine Google could buy Uber, saying, “The big one could get bigger, and the medium one could shrink.”
The Trump administration may halt M&A.
Big companies – mag 7, etc – may finally be able to use their market edge. Amazon could buy Instacart. Google could buy Uber. etc. etc
The big one may grow, and the middle one may shrink.
If that happens, I think it will accelerate…
— Hunter Horsley (@HHorsley) January 5, 2025
Accelerating Cryptocurrency
Horsley suggested that allowing large US companies to make strategic purchases could fuel the adoption of established systems, which would benefit the state of cryptocurrency.
“If that happens, I think it will accelerate crypto,” Horsley said in the post.
The head of the crypto index fund believes that if large companies accumulate more control, the demand for cryptocurrencies could increase because digital assets serve as an alternative to these institutions.
“The concept of crypto does not trust big institutions to act in your best interest. The massive growth underscores this,” he said in the X post.
BTC market cap currently at $2.02 trillion. Chart: TradingView.com
Industry Leaders Embracing Crypto
Many analysts have noted that blockchain technology and digital assets are attracting the attention of industry giants such as Amazon and Google who are finding opportunities to be part of cryptocurrency markets.
For example, Amazon Web Services launched Amazon Managed Blockchain, a blockchain-related service for the retail giant. It allows companies to create and manage decentralized blockchain networks, turning Amazon into a major player in the blockchain market.
Organized Partnerships
Meanwhile, Google has developed strategies to interact with key blockchain systems and joined campaigns pushing the integration of blockchain technology and cloud infrastructure, increasing the search engine’s footprint in the cryptocurrency sector.
On Google Cloud, businesses can now experience blockchain-as-a-service that gives them the opportunity to create and run decentralized applications.
Bitcoin price breaking the $100k level today. Source: CoinMarketCap
Horsley’s statement is timely as the cryptocurrency market is currently enjoying the positive outlook brought by Trump who is considered pro-crypto.
Trump’s election victory fueled a boom in the digital asset market where investors saw Bitcoin surpass the $100,000 mark in early December, up from around $69,000 in early November.
Featured image from Fox News Screengrab/AsiaTimes, chart from TradingView