US Crypto Momentum Could Rival ‘Space Race,’ Says TRM Labs Executive

Excitement surrounding the cryptocurrency industry in the United States is akin to the fervor of the space race, with new political appointments and growing innovation positioning the country to become a global leader in digital assets, according to Ari Redbord, Head of Legal and Government Affairs at TRM Labs.

In an interview on CNBC’s Squawk Box on January 6, Redbord expressed optimism about the U.S.’s trajectory in the crypto space, comparing the current momentum to the race for space exploration. “There’s this excitement and cadence of almost a space race where the U.S. is now in a position to keep up with the rest of the world or even surpass it,” he said, highlighting a significant shift in the country's regulatory landscape and its potential role in the future of digital assets.

Redbord, a former prosecutor, emphasized that this wave of enthusiasm stems from several key pro-crypto appointments made since the 2016 election of former President Donald Trump. He pointed to notable figures such as hedge fund manager Scott Bessent, nominated as Treasury Secretary, Paul Atkins, named chair of the Securities and Exchange Commission (SEC), and venture capitalist David Sacks, who has been designated as the White House’s "crypto czar." According to Redbord, these figures and others in the Cabinet are part of a broader trend of support for digital assets, fintech, and artificial intelligence.

“The people are the policy,” Redbord said, reflecting on how such appointments have paved the way for pro-crypto policies that could make the U.S. a key player in the digital economy.

Beyond Bitcoin: The Expanding Use of Digital Assets

Redbord’s enthusiasm for the crypto sector extends beyond Bitcoin itself. He noted that recent developments, such as the adoption of stablecoins by major fintech companies like Stripe and Cash App for cross-border payments, signify a broader shift in how digital assets are being used. “Bitcoin has traditionally been an investment mechanism or store of value, but what we’re really seeing is people start to use the technology for cross-border payments, remittances, and to buy things,” Redbord said.

This evolution in the use of digital currencies is seen as a pivotal moment for the crypto industry, as it moves from speculative trading to a more practical, utility-driven application. Redbord highlighted how fintechs, which are often at the forefront of digital asset integration, are leveraging stablecoins for large-scale payments, further driving adoption and mainstream acceptance.

Bitcoin Price Prediction: Redbord Sees Significant Upside

While Redbord did not provide a specific price target for Bitcoin, he suggested the digital asset’s value is poised for significant growth in the coming years. He noted that factors such as a potential U.S. Bitcoin reserve and the broader global interest in digital currencies could propel Bitcoin’s price to new heights. “I think it will go significantly higher,” Redbord said, citing the growing recognition of Bitcoin’s utility beyond just an investment vehicle.

His sentiments were echoed by many market analysts, including full-time crypto trader Daan Crypto Trades, who shared on January 7 that Bitcoin has “only just started its price discovery phase.” With Bitcoin continuing to gain acceptance as both a store of value and a medium for practical transactions, analysts predict cryptocurrency could experience substantial price increases in the future.

The Road Ahead for Crypto in the U.S.

As the United States positions itself to lead the digital asset revolution, growing support from both the public and private sectors signals a bright future for the crypto industry. With the Biden administration making key appointments that signal a shift toward a more crypto-friendly environment, Redbord believes that the U.S. could soon be at the forefront of global digital innovation, rivaling the excitement and competition seen in the space race.