How Trump’s opposition to CBDCs could boost crypto’s appeal

As the crypto landscape continues to evolve, experts are weighing in on what could drive the next surge in the market. In a recent discussion, Roundtable host Rob Nelson was joined by David Duong, Head of Institutional Research at Coinbase, Jon Najarian, Co-Founder of Market Rebellion, and Aaron Arnold, Host of Altcoin Daily. The conversation covered the potential of non-Ethereum blockchains, the impact of political stances on Bitcoin, and promising assets in the market.

Rob Nelson kicked off the conversation by asking about the excitement surrounding various blockchains and the anticipated crypto rally. David Duong noted that despite the FTX crash, there has been a resurgence of interest in Layer 1 and alternative Layer 1 (ALT L1) blockchains, citing Solana’s significant technological advances. However, Duong emphasized that Ethereum remains the dominant player in the decentralized finance (DeFi) space, with bitcoin and ethereum the primary assets for institutional investors.

Duong highlighted the recent ETF launches as a significant development, suggesting that this will attract significant institutional inflows. “Bitcoin and ETH are still top tokens to watch,” he said, emphasizing that traditional finance research continues to focus on these two assets. He believes a broad ETF covering bitcoin and ethereum could soon become a reality and boost price performance.

Jon Najarian has shifted the focus to central bank digital currencies (CBDCs) and their potential impact on bitcoin. He noted that former President Trump’s strong opposition to CBDCs and the digital dollar could boost bitcoin’s value. “Trump’s stance against CBDCs could boost bitcoin,” Najarian said, suggesting that the political climate plays a significant role in crypto markets.

When asked to offer investment preferences, Najarian stated that he prefers Coinbase, praising its robustness and performance. “I like Coinbase because it’s publicly traded and has been a solid choice for investors,” he said, emphasizing that his recommendation is not driven by risk but by the exchange’s stability.

Aaron Arnold provided insights into low-cap cryptos with potential staying power. He cited Solana, Chainlink, Injective, Sui, and Ondo Finance as assets with real utility and institutional connections. “We are bullish on a number of different directions in the space, from tokenization to L2s to gaming,” Arnold said, highlighting the various opportunities in the crypto market.