The CEO of Binance, Richard Teng, says that he is bullish in Bitcoin (BTC) and other digital assets despite current market turbulence.
In a new interview with CNBC, Teng said that the embrace of digital assets by America under the American president Donald Trump, including the launch of a Bitcoin strategic reserve, is a massive optimistic catalyst for the whole industry.
“Look at the long -term engines. If you ask someone in the cryptography industry, people prefer current administration compared to the last. With the last administration, you had the operation during the operating “Choke Point 2.0”. And then you had regulation by the application, which makes industry growth extremely difficult.
And President Trump came very pro-Crypto, came and presented a strategic reserve for the United States and the crypto, I think it is a very historic problem on this front. And he has appointed many intelligent administrators to the respective (regulatory) agencies, and he has the Senate and the Chamber behind him with very pro-Crypto legislators. We are therefore very optimistic on this front. Long -term drivers are strong. »»
He also says that cryptographic markets correct like other assets in the midst of recent macroeconomic uncertainties, such as the impacts of Trump’s pricing policies.
“The cryptography market, as for any asset class, is not immune to macroeconomic situations. What we think we see is a technical retirement rather than a structural drop. If you remember 2022, Bitcoin, after several cycles of rate increases in the Fed, was less than $ 20,000 but it was rebounded. Again, this is one of these situations. »»
Finally, he says that the launch of the Bitcoin Strategic Reserve of the United States can encourage other governments to accumulate the flagship asset of cryptography.
“The message is, the largest government, the largest economy, the largest capital market in the world is now a Bitcoin holder within the framework of a reserve. This will bring many other governments to think about the question, to sit down to say, hey, should we start to make the crypto and bitcoin allowance? Many sovereign funds are already starting to consider the question.
We were in Davos together, and (CEO of Blackrock), Larry Fink, spoke to this and said in his conversations with all the great sovereign funds, it is not a question of allocating, it is if the allowance of 2% or 5%. So we have a lot of these important conversations now. The long -term engines are very, very strong. »»
https://www.youtube.com/watch?v=E4XHS9K9AOI
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