Originally published on: November 12, 2024
The upcoming US presidential election has the cryptocurrency world on edge, with Swan.com CEO Cory Klippsten sounding the alarm about a potential “Wild West” era in crypto if Donald Trump secures a second term. In a recent interview, Klippsten expressed his concerns about how relaxed regulations under a Trump administration could lead to a surge in altcoins, creating a risky and speculative environment.
Describing the current landscape as a “Wild West” stage, Klippsten warned that an influx of altcoins under looser regulations may divert demand away from Bitcoin, the reigning king of digital assets. This shift could pose a threat to Bitcoin’s dominance and stability in the market, as attention and resources are redirected towards risky altcoin projects.
Klippsten coined the term “the age of scambling” to capture the chaotic nature of this potential scenario, highlighting the risks of investors being lured away by flashy altcoins instead of focusing on Bitcoin’s long-term value. However, he also noted that Bitcoin’s reputation as a secure and stable asset is increasingly being recognized amidst the altcoin frenzy.
For more insights on Trump’s impact on the crypto market and the future of Bitcoin, don’t miss Klippsten’s full interview on our YouTube channel. Stay tuned as the crypto world braces for a potential “Wild West” era under a Trump presidency.
