Place/Date: - September 8th, 2022 at 5:34 pm UTC · 3 min read
On the 5th of September, 2022, Liz Truss was announced as the winner of the Conservative leadership election. Truss managed to secure 57.4% of the votes making her the third female Prime Minister in the history of the UK Boris Johnson, the previous leader of the Conservative Party, has left Downing Street following his resignation on the 7th of July.
So, what does this mean for cryptocurrency? Liz Truss has taken a pro-crypto stance during her time in office. She claimed in 2018 that the U.K. “should welcome cryptocurrencies in a way that does not constrain their potential”. Now Liz Truss is Prime Minister, cryptocurrencies like Ethereum (ETH), Bitcoin (BTC), and MetaCryp (MTCR) could become widely adopted throughout the nation.
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Without leaving the comfort of your homes, you can carry out activities in the MetaCryp Metaverse and get rewarded for your actions. Instead of using expensive and heavy computerised machines to mine cryptocurrency, users simply earn MTCR tokens by participating in gaming activities.
So, how do Liz Truss’ comments affect MetaCryp? Liz Truss has reportedly stated that she supports an anti-regulatory approach to digital assets. If she maintains this view through her time as Prime Minister, MetaCryp could see widespread adoption throughout the UK.
The crypto giant, Ethereum, boasts an impressive market capitalisation of $203 billion at the time of writing. Ethereum is host to the most anticipated news to grace the crypto world, the merge.
The merge will switch Ethereum from a Proof-of-Work (PoW) consensus to Proof-of-Stake (PoS). With this switch, Ethereum will reduce its carbon footprint, increase its speeds, heighten its security, and lower its fees!
The merge could take place as early as the 15th of September. With the highly anticipated merge around the corner, could Ethereum challenge Bitcoin (BTC) in popularity?
Since its inception in 2009, Bitcoin has dominated the market with no signs of slowing. At the time of writing, Bitcoin has a market capitalisation of $380 billion. That’s almost double what Ethereum has!
Liz Truss was formerly the Secretary of State for International Trade. During her time there she launched a digital trade network that promoted various fintech firms, among other measures. If she were to continue this route with cryptocurrencies, Bitcoin could be at the top of her list to promote.
No one can deny the importance of Bitcoin in the cryptocurrency market. It sets a trend for the rest of the market to follow.
Liz Truss could have a positive influence on the crypto market following her appointment as Prime Minister. Bitcoin and Ethereum would be at the top of the list of cryptos to be affected by Liz Truss’ comments. However, with the rising number of gamers, Truss could also endorse P2E cryptocurrencies like MetaCryp. The innovative platform is in the second stage of its presale and can be picked up for a low price.
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