What the Latest Cryptocurrency Executive Order Means for Investors
If you’re still skeptical of cryptocurrency, you shouldn’t be anymore. As the government is trying to wrap its antiquated minds around digital currency, the hope for wider spread adoption is getting closer. President Biden signed a cryptocurrency executive order today–sparking positive reactions from the crypto community.
“President Biden will sign an Executive Order outlining the first ever, whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology”White House Press Release
In short, the government wants to find a way to regulate and protect consumers. Hopefully, the research called out in this Executive Order will give our government the knowledge to practically implement crypto into our society.
The original concept behind cryptocurrency was to transact, own, and store currency without the shackles of big banks and government regulation. Yet, we find ourselves in a spot where the government wants to launch an in-depth research initiative into digital currency.
Is it a good thing? Yes.
There will always be naysayers to regulating crypto. However, we’re still in the infancy of this technology. The skeptics of cryptocurrency will probably find peace in the idea of government research programs finding solutions to crypto integration.
For people like myself, I find it uniting. If we’re working together to build a better DeFi infrastructure—I’m all for it. We can’t stop progress, so why fight adoption across government entities?
It’s exciting news to propel the education of blockchain technology. For all generations, government research will add credibility and trust to those who do not understand the utilization of cryptocurrency.
Investing in Cryptocurrency
As for investors, the news sparked a 10% increase in Bitcoin price and moved other coins like Ethereum by 5%.
The uncertainty of the crypto world is fueling daily volatility. Progress with government, companies, and influential individuals will continue to make this technology more valuable.
As always, it’s better to stack partial coins—like Satoshis—to reduce your risk. You can’t time the market, so it’s better to be active in the market and manage your own expectations with volatility. Similar to stocks, good news around advancement will positively affect the price.
Research before you invest and talk to a financial professional if you need assistance.
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