Trump administration’s policies could propel cryptocurrency growth, says Bitwise CEO

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6th January 2025 – (San Francisco) Hunter Horsley, the CEO of Bitwise Asset Management, has indicated that the economic policies of the Trump administration could significantly influence the cryptocurrency landscape. In a recent tweet, he highlighted that the anticipated deregulation of mergers and acquisitions (M&As) might enable major corporations like Google and Amazon to further expand through strategic acquisitions. M&As, which involve the consolidation of companies, can enhance economies of scale, increase market share, and secure vital assets.

Horsley noted, “Large corporates may finally wield their market cap. Amazon could buy Instacart. Google could buy Uber. The big may get bigger, and the middle may shrink.” He believes that this concentration of corporate power could accelerate the demand for decentralised systems, aligning with the fundamental ethos of cryptocurrencies, which often stem from a distrust of centralised institutions.

Corporate giants such as Google and Amazon are increasingly exploring blockchain technology and digital assets to penetrate the crypto market. For instance, Amazon Web Services has launched Amazon Managed Blockchain, allowing companies to build and manage scalable blockchain networks, positioning itself as a key player in the burgeoning enterprise blockchain arena.

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Similarly, Google has enhanced its involvement in the cryptocurrency sector by offering blockchain-as-a-service on Google Cloud, enabling businesses to design and deploy decentralised applications. These endeavours illustrate how major firms are harnessing blockchain technology to diversify their business models while utilising traditional M&A strategies to broaden their influence, thereby promoting the adoption of decentralised systems.

Horsley’s remarks come at a time when the cryptocurrency market is experiencing a resurgence following Donald Trump’s recent re-election. His victory is viewed favourably by many in the cryptocurrency sector due to his pro-business policies, which are perceived as supportive of digital assets and blockchain technology. This regulatory optimism has contributed to a bullish trend in the market, with Bitcoin surging from approximately $69,000 on November 8, 2024, to over $100,000 by early December.