The Federal Reserve's plan to hike interest rates throughout the year to curb soaring inflation is leading investors to turn away from riskier assets, a category cryptocurrencies belong in. That's why the Biden administration's approach, tasking various governmental agencies with researching and finding ways to safely support digital assets, is a positive in my view. It is estimated that the value of all the mined gold on Earth is worth north of $12 trillion, so if this situation ever became reality, Bitcoin has an incredible runway for price appreciation.