10x Research founder calls Trump's Fed chair pick Kevin Warsh bearish for Bitcoin

10x Research founder Markus Thielen said on Jan. 30 that markets view Donald Trump's nomination of Kevin Warsh as the next Federal Reserve chair as negative for Bitcoin. Thielen noted Warsh's focus on monetary discipline, higher real interest rates and reduced liquidity would mean cryptocurrencies are no longer seen as a hedge against currency debasement but rather as speculative excess that would fade once loose monetary policy is withdrawn. He added that Warsh's approach would likely have led to higher unemployment, slower economic recovery and greater deflation risks during the 2010s.