As the outgoing Biden administration hands over to the second Trump regime in the United States, Volta Card holders may be watching on with more interest than many.
True, many people will be most focused on what Trump says and does about Ukraine, Panama and Greenland, or what happens to tariffs. But anyone with an interest in crypto will have very good reasons to centre their attention on what will take place in this sphere.
The latest report from Bloomberg has stated that Mr Trump will start his term in office by issuing an executive order that Cryptocurrency will be a national priority. This marks quite a change from his dismissal of crypto in his first term.
It may not quite be a case of ‘make crypto great again’, but if the reports are accurate – and everything said and done on the subject by the Trump camp during and since the campaign has leaned in this direction – policies to bolster crypto will take precedence over a whole range of other measures.
What Trump Is Expected To Do
According to the anonymous sources behind the report, the order will instruct government agencies to work with the crypto industry, while a crypto advisory council will be set up with the role of advocating for the industry, in effect being a quasi-governmental body that helps formulate favourable policies.
Nobody should be surprised if this gives crypto values a fresh boost, especially, but not exclusively, Bitcoin, the currency given top priority as Mr Trump has promised to create a strategic reserve of the currency.
Vice president for US policy at cryptocurrency exchange Coinbase Global, Kara Calvert, said: “What I think Donald Trump is going to do is signal that the United States is back and we are ready to lead in this industry.” She added: “What it’s signalling to other countries is be careful, or you won’t keep up.”
Small wonder, therefore, that Reuters has declared the return of Mr Trump to the Oval Office as marking a “new cryptocurrency era”, freed from the tighter regulation and enforcement action of the Biden years and the Securities and Exchange Commission under Gary Gensler, who is stepping down from the role before he can be sacked.
Paul Atkins, who will replace Mr Gensler, is a crypto enthusiast and a fan of lighter-touch regulation.
In addition, various other Trump appointments and leading members of the incoming administration, from AI and crypto czar David Sacks and new secretary of commerce Howard Lutnick to vice-president JD Vance and the ubiquitous Elon Musk, are all heavily involved in the crypto world.
Why An AI Crypto Can Outperform Crypto
This picture may be exciting, especially for those using a Volta Card to pay for things in crypto, but what is important is to note that in such a pro-crypto environment, it is not just about Bitcoin. Yes, that currency has grabbed the headlines with its value twice topping $100,000, but there are bound to be other good performers out there.
Those looking around for opportunities might note the fact that Bitcoin, despite its rally at the end of the year after the election, was not the best-performing cryptocurrency in 2024. That title went to Virtuals Protocol.
As Motley Fool reports, the value of Virtuals Protocol rose 23,000 per cent last year, compared with 125 per cent for Bitcoin. Of course, as a newer and smaller currency (now the 33rd largest in the world) it may have had more scope for growth, but even so, this could be one to watch.
Motley Fool explained that the reason for the extraordinary growth of Virtuals Protocol is that it acts as a Blockchain platform for launching artificial intelligence (AI) agents, normally associated with gaming and entertainment, but now being used for more economically productive purposes.
In other words, it uses established crypto technology to support the development of a new area of technology many expect to transform life and the economy. Not only that, it does so in a way that could see AI directly involved in helping carry out crypto trading.
Be Ready For The Next Big Thing
Given that the UK government is keen on leveraging the possibilities of AI, as outlined in a recent speech by prime minister Sir Kier Starmer, any crypto linked to the advancement of this industry may offer significant growth prospects. One that has a specific role in crypto may do even better.
There may be more crypto developments linked to the ‘next big thing’, whatever that may be, so it is important to be looking out for opportunities. The next few years could be very exciting for Crypto, with the reasons for this extending way beyond political and regulatory decisions being taken in Washington.