Donald Trump’s intention to make the United States “the world capital of bitcoin and cryptocurrencies” risks impacting the supply of investment products, believes a financial planner.
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Already, the election of the Republican candidate at the head of the most powerful country in the world has exploded the value of bitcoin, which crossed the threshold of US$90,000 (CAN$126,895) on Wednesday.
“We are already seeing investment funds […] have a portion of perhaps 2 to 3% in cryptocurrencies like Bitcoin or Ethereum,” estimates Fabien Major, who is also a columnist.
This growth could act like “wildfire” internationally, which would help to democratize their use, he indicates.
“I anticipate that in fact political parties in various countries that are aligned with [les valeurs] of Trump will certainly promote [des cryptomonnaies] and will try to attract the attention of Donald Trump by saying that we too, in our country, would like to facilitate crypto exchanges,” illustrates the expert.
“We will perhaps be able to see, I would say, an extent of this use of crypto even within people’s plans such as the CDI or even the RRSP,” he adds.
The latter, however, mentions in an interview with LCN that this liberalization of virtual currencies must imperatively be accompanied by supervision to protect investors.
“We certainly need to have firm guidelines and also some form of warning. It must be written each time we use it, that ultimately, it is an extremely volatile asset and perhaps reserved for speculators,” he says.
Watch the full interview in the video above
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