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While bitcoin (BTC-USD) has seen a fall in trading recently, bitcoin ETFs have seen their first rise in inflows in weeks, according to Bloomberg data. Part of bitcoin's decline is due to the fallout from the Mt. Gox bankruptcy claims and the German government's recent dumping of bitcoins from its holdings.

BTC Inc. CEO David Bailey joins Asking For A Trend to give insight into his outlook on bitcoin and how the cryptocurrency is playing into the current political environment.

Bailey commented on a recent meeting with former President Donald Trump: "We talked to bitcoin mining. We talked how Bitcoin is aligned with the president's agenda for energy independence, for energy abundance, for America first, to really dominate what is a strategic asset of the United States. So, the president is very aligned with the bitcoin industry and sees the opportunity that bitcoin offers the United States and also the risk a lack of action would bring about as well... [Trump], in his classic style, coined the term, 'We want bitcoin made in America.'"

For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend.

This post was written by Nicholas Jacobino