Brian Armstrong, CEO of cryptocurrency exchange Coinbase, indicated that Donald Trump’s presidency may lead to increased investments in cryptocurrencies.

Speaking at the World Economic Forum in Davos, Armstrong highlighted that support from a leader of a major economy like the US could significantly impact the market.

He described Trump as a potential supporter of the sector, noting that public endorsement can influence the industry.

Armstrong also mentioned that legislative changes in Congress could drive new investments in cryptocurrency, citing bitcoin’s recent peak partly due to Trumps’ inauguration.