While Donald Trump created a huge impact in the cryptocurrency market by issuing his own token, Bernstein analysts evaluated Trump's issuance of a memecoin.
Bernstein analysts said the TRUMP memecoin signals the beginning of a new crypto era, The Block reported.
Bernstein analysts said this development is a major positive development for cryptocurrency developers in the United States, who have been crushed under pressure from the Biden administration.
Analysts led by Gautam Chhugani noted that the launch of a memecoin by the world's biggest political figure signals a major paradigm shift in how the US and the rest of the world approach cryptocurrencies.
“Trump's launch of his own memecoin signals the beginning of a new era of regulation in the cryptocurrency space.
It also signifies a new regulatory era where governments see crypto as a technology to reach the masses directly.
This is Trump saying 'Build in the USA and don't be shy about token launches – a new era of crypto regulation is here'.
“So it could potentially lead to certain politicians leaning more towards positive crypto policy. We've seen this in the US, Argentina, and even Canada, where the right-wing political side is leaning in favor of Bitcoin/crypto.”
The report stated that the TRUMP memecoin, which leverages Trump's brand and politics, has a potential long life.
*This is not investment advice.
