In the United States, Joe Biden, who is elected president, is expected to be on the economic team. The two members can support both the Bitcoin (BTC) and the cryptocurrency community. Lael Brainard, who is expected to serve as Biden’s treasury secretary, made many statements regarding blockchain and digital assets during his tenure as a Federal Reserve Board Member.
If there is support from Joe Biden’s economic team for Bitcoin and the bulk cryptocurrency market, both the leading cryptocurrency’s reliability and acceptability will increase. The fact that institutional players are more involved in the crypto money market will positively affect the future of cryptocurrencies, which are seen globally. The U.S. central bank has been working on making a digital dollar, agreeing to a recently published transcript from Federal Save Board Governor Lael Brainard. The central bank cold wars have begun, as the United States clearly wants to compete with China’s upcoming central bank digital currency (CBDC).