- Bitcoin and Stablecoins will thrive regardless of the U.S. presidential election outcome, says Alyse Killeen.
- Killeen believes Bitcoin’s relevance extends to industries like renewable energy, boosting regulatory attention.
- She noted that Bitcoin helps stabilize the energy grid by using low-cost energy during peak times.
- Killeen emphasized Bitcoin’s strong place as a store of value, alongside the growing role of Stablecoins.
Bitcoin and stablecoins will continue to thrive no matter who wins the upcoming U.S. presidential election, says Alyse Killeen, founder of Stillmark, a venture capital firm focused on Bitcoin.
According to Killeen, the future of Bitcoin and stablecoins doesn’t hinge on a specific administration’s policies.
Bitcoin and Stablecoins Innovation Regardless of the Administration
Killeen noted that the upcoming election will prompt the government to reconsider its approach to innovation, including within the Bitcoin ecosystem. “What we’re hoping to see, regardless of the administration in situ, is that they take a thoughtful approach, that they take a studied approach,” she said. So, the focus should be on protecting investors while fostering innovation. Killeen added, “We are updating the rules of the path so that they fit well with the current innovation.”
She expressed hope that both candidates, Donald Trump, and Vice President Harris, will push policies that allow the U.S. to maintain its leadership in Bitcoin innovation. “The U.S. has an advantage now, and many of the top founders, the most innovative companies in the space, including those advancing Bitcoin’s payment technology, are based in the United States,” Killeen said.
Bitcoin’s Relevance Beyond Crypto
Killeen noted that Bitcoin innovation is tied to other national industries, such as renewable energy. So, this connection could drive regulatory attention. “Bitcoin innovation is not happening in a silo,” she said.
“It’s relevant to other industries of national relevance, such as the transition to renewable energy.” She added that this link to other industries might make Bitcoin huge in the eyes of regulators.
The Impact of Bitcoin on Energy and Stability
Killeen also brought up concerns expressed by Gary Gensler, the SEC chair, about the stability of core technologies like AI. She suggested that Bitcoin could help support this stability. “They should be looking to how Bitcoin can support the robustness of a generative AI and an ecosystem,” she said.
One way Bitcoin could assist is through energy stability. “Bitcoin is an off-taker of energy in the same way AI is,” Killeen explained. She noted that Bitcoin can respond to energy prices by using low-cost energy and shutting off during peak demand. Which ensures that it does not destabilize the grid. So, she argues that this could lead to “healthy growth of renewable generation.” Contributing to the stability of the energy ecosystem.
Bitcoin and Stablecoins as a Store of Value
Killeen acknowledged Bitcoin’s solid place as a store of value. “Bitcoin as a store of value has secured its place in history,” she said, referencing the success of the Bitcoin ETF, which reached over $20 billion in assets within a year, surpassing the initial performance of gold ETFs.
However, she also highlighted the growth of Stablecoins. “We’ve seen Stablecoins find product market fit both internationally and within the U.S.” So, this growth in Stablecoins has extended to Bitcoin’s Lightning Network, which in July launched payment channels capable of handling other assets, including Stablecoins.
She pointed out that the Lightning Network processes over 200,000 transactions a day and handles $80 million in value each month.
Conclusion
Alyse Killeen is optimistic about the future of Bitcoin and stablecoins. She believes that with planned regulation and innovation, both digital assets will continue to grow. From Bitcoin’s role in renewable energy to the growing use of stablecoins on the Lightning Network, the future is promising.
According to Killeen, the upcoming U.S. election won’t disrupt these developments—Bitcoin and stablecoins are here to stay.
Bloomberg Technology; Image source
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