Comment on Trump’s inauguration will usher in a crypto-friendly administration, and with it, new state policies

Trump’s inauguration will usher in a crypto-friendly administration, and with it, new state policies

By MARC LEVY, Associated Press HARRISBURG, Pa. (AP) — The bitcoin-friendly administration of President-elect Donald Trump and an expanding lobbying effort in statehouses could push states to become more open to crypto and lead public pension funds and treasuries to buy into it. Proponents of the uniquely volatile commodity argue it is a valuable hedge against inflation, similar to gold. Many bitcoin enthusiasts and investors are quick to say government-backed currencies are prone to devaluation and increased government buy-ins will stabilize future price swings, giving them more legitimacy and boosting already rising prices. But the risks are significant.

 

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