Brian Armstrong, CEO of the U.S.’s largest cryptocurrency exchange, Coinbase, acknowledged the significant role of new media in shaping election outcomes, crediting the company’s former tech head Balaji Srinivasan for his early foresight.
What Happened: On Sunday, Armstrong took to X to express his views on the changing media landscape and its impact on elections.
“This seems like the first election where new media has fully flipped traditional media. Long form podcasts, X/social, prediction markets, etc. deciding this election,” the cryptocurrency mogul wrote.
Armstrong added that Balaji Srinivasan, a renowned Silicon Valley investor and Coinbase’s former Chief Technology Officer, was the first to identify this trend around 7-8 years ago.
The ‘long form podcasts’ mention could refer to Trump’s three-hour episode with popular podcaster Joe Rogan that aired Friday night.
The Coinbase boss had previously said that cryptocurrency is a non-partisan issue, with advocates from both sides of the political spectrum championing its cause.
Global bank Standard Chartered has predicted that Bitcoin (CRYPTO: BTC) could hit $73,000 by the time of the U.S. presidential election on Nov. 5.
Image via Flickr/ TechCrunch
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