A New Crypto Category Has Emerged. What Impact Will it Have…Will It Evolve Into A Significant Narrative?

US-based cryptocurrency initiatives have historically been reticent about their origins. However, during Gary Gensler's tenure, they became vulnerable to aggressive scrutiny from the SEC, and numerous projects found themselves in the regulatory crossfire. Being a US-based project has often been a liability rather than a benefit in recent years.

The cryptocurrency industry has been electrified by the outcome of the U.S. Presidential election, with Donald J. Trump's victory sparking widespread anticipation. The regulatory shifts expected under Trump's leadership are poised to grant the crypto sector unprecedented freedom in the United States.

A new cryptocurrency category has surfaced amid this enthusiasm: "Made in the USA." This category includes cryptocurrencies that are closely linked to the United States, whether through headquarters located in the US or ties to notable American personalities. With Trump backing crypto, this category could see substantial growth, likely surpassing many others.

This has the potential to evolve into a significant narrative; thus, this article explicitly addresses cryptocurrencies based in the United States, the reasons this narrative could gain prominence, and the cryptocurrencies that may benefit from a Trump administration. To commemorate President Trump's inauguration, a newly established cryptocurrency category titled 'Made in USA' has been incorporated into price tracking platforms, including CoinMarketCap and CoinGecko. 

Source: X CoinGecko

What Qualifies A Crypto As Made In The US?

What exactly qualifies a crypto project as US-made? It refers to cryptocurrencies with significant connections to the United States through their founding team or company headquarters or if the project is tied to a high-profile American personality. These tokens include XRP, SOL, USDC, AVAX, SUI, and LTC, with a total market cap of $453 billion. 

When CoinGecko first announced a new category had been added, there were just 18 projects, including the Official Trump and Melania memecoins, as well as the yet-to-launch WLFI token, which is for President Trump's very own protocol, World Liberty Financial. The list has been growing ever since, displaying 248 tokens, including Cardano’s ADA and Algorand.

This new category sparked conversations about the advantages of US-based cryptocurrencies, with excitement growing when rumors surfaced that Ripple’s CEO, Brad Garlinghouse, had discussed with Trump the creation of a crypto Reserve that would diversify its holdings beyond Bitcoin. This naturally positioned XRP as a key player in potentially contributing to such a reserve. Consequently, XRP emerged as one of the top traded coins on Coinbase and Binance, second only to BTC, and soared to a new all-time high. 

Nevertheless, the excitement proved fleeting; a report from Unchained revealed that three sources claimed the rumors about an altcoin reserve comprised of US-made cryptocurrencies were merely unsubstantiated claims reportedly initiated by unnamed Ripple Labs employees. Following Unchained's publication of this article, Ripple Labs spokesperson Susan Hendrick refuted these allegations, yet she did not clarify which specific allegations she was addressing. 

The same report shed light on a conversation that Trump had with Ripple, citing that Trump said, “You guys made this amount of money last year, and you’re gonna make so much more now because of me…But when I needed you, where the f**k were you? You weren’t with me, and maybe you were with [Kamala Harris].”

For context, Ripple’s co-founder, Chris Larson, has reportedly donated $millions to support Kamala Harris’s presidential campaign. Many political analysts believe revenge will be a key theme in Trump's second term. This could foreshadow issues for XRP despite it being a “Made in America” crypto, purely due to the actions of one of Ripple's Executives. 

What Makes The "Made In USA" Category So Significant?

This raises the question of why the Made in USA designation is crucial. The answer lies in regulation. Previously, the US was considered a challenging environment for the crypto industry. However, the US could soon transform into a favorable space as the regulatory landscape evolves positively. This change notably lowers the chances of American crypto projects encountering unnecessary scrutiny from organizations like the SEC. 

As policies improve, projects based in the US are expected to experience significant growth. These policy changes, which began when Trump signed several executive orders, including one that established the Presidential Working Group on Digital Asset Markets, are a hopeful sign for the future of US-based cryptocurrencies. 

This working group will focus on creating clear federal regulations that benefit digital assets and “will evaluate the creation of a strategic national digital assets stockpile” to bolster US competitiveness in this rapidly growing sector. 

Concurrently, other executive orders pertaining to cryptocurrency include identifying existing legislation that requires changes, reversing policies that hinder cryptocurrency innovation, and prohibiting the establishment or promotion of central bank digital currencies (CBDCs). 

Source: CoinShares

Significant Capital Entering The US Crypto Market

A considerable amount of investment is currently entering the crypto market from the United States, surpassing other countries. According to a report by Chainalysis in 2023, approximately a quarter of all cryptocurrency transactions originate from the US. Nevertheless, the recent fervor sparked by Trump's presidency and the emergence of associated meme coins has altered the dynamics of this market.

A recent CoinShares report reveals that investor enthusiasm in the week leading up to Trump's inauguration sparked a surge in US capital inflows. During that week, a staggering 90% of investments were directed towards the US, totaling $2.2 billion. Not surprisingly, Bitcoin was the primary recipient of this fervor, with Bitcoin-related funds accounting for 86% of total inflows, amounting to $1.9 billion. This trend aligns with BTC's potential as a national reserve asset and the growing institutional interest in the cryptocurrency.

The Top Cryptos Under The Made In USA Umbrella

Solana Labs, headquartered in San Francisco, is the driving force behind the Solana platform. The recent surge in popularity of Trump and Melania-themed meme coins, predominantly launched on Solana, has significantly contributed to its growing reputation. Notably, Eric Trump is said to be a holder of SOL, and David Sacks, a prominent cryptocurrency advisor to Trump, has publicly expressed his support for the Solana blockchain. As a result, any favorable policies introduced would positively impact Solana, potentially leading to an increase in the value of SOL.

The list includes SUI, regarded as a key competitor of Solana and managed by Mysten Labs based in California. It's interesting to note that Eric has invested in SUI, which has caught many off guard. Although SUI is well-known within the crypto world, it has not yet achieved widespread recognition outside this area. Eric's strong connections to World Liberty Financial might shed light on his investments in both SUI and SOL.

Cardano is another cryptocurrency project that may reap the rewards of a shift in Trump's policies. Although the Cardano Foundation is headquartered in Switzerland, its co-founder Charles Hoskinson has strong ties to the US, having been born in Hawaii and residing in Colorado. Notably, Hoskinson has already engaged with Trump's team in 2024 to explore cryptocurrency policy, potentially positioning him as an influential voice in shaping its future direction.

Chain Link, a cryptocurrency headquartered in New York, is poised to benefit from its association with Trump's positive stance on cryptocurrency and his efforts in the industry. LINK could potentially see significant gains since it serves as a protocol for World Liberty Financial, which holds a substantial amount of LINK. 

No Tax On Crypto Created In The US?

The crypto market anticipates potential advantages from Trump's policy changes. Speculation suggests that cryptocurrencies minted in the United States might be exempt from taxes. These claims stem from remarks made by Eric Trump in his December speech in Abu Dhabi.

For context, Eric proposed that cryptocurrencies based in the US might gain from an absence of capital gains tax. Conversely, he noted that crypto initiatives outside the US would face higher capital gains taxes, approximately 30%. Should this occur, there may be a surge of crypto projects established within the US. However, if political resistance arises due to concerns about potential tax revenue losses, alternative strategies remain available. 

A potential approach is to create a de minimis exemption that frees minor, everyday transactions from taxation. This would enable individuals to make small purchases, like a cup of coffee, without tax liabilities. Another strategy might be for the United States to implement holding period exemptions akin to those in Germany or Portugal, where cryptocurrencies held for more than 12 months are tax-exempt.

Another approach is for the United States to implement tax policies that are more advantageous for cryptocurrency mining and staking rewards. Such measures would benefit investors and bolster the security of cryptocurrency projects linked to proof-of-stake or proof-of-work networks within the country.

Source: X

The US Strategic Bitcoin Reserve

Bitcoin and other cryptocurrencies have reached all-time highs partly because of the Trump administration's supportive stance on crypto. Nevertheless, the wording in Trump's executive order indicates that the government's plans regarding crypto may not align with public expectations. One segment of the executive order contains the following passage,

“The working group shall evaluate the potential creation and maintenance of a national digital asset stockpile and propose criteria for establishing such a stockpile, potentially derived from cryptocurrencies lawfully seized by the federal government through its enforcement efforts.”

This statement implies that the US government has the authority to retain its existing cryptocurrency holdings and any additional assets that may be confiscated by law enforcement in the future. Still, it does not grant permission for the government to acquire new bitcoin.

In light of recent developments, Congress is working on a plan to create a cryptocurrency reserve. Under the leadership of Senator Cynthia Lummis, the Senate Banking Committee is preparing to start developing a law allowing the U.S. government to obtain additional Bitcoin (BTC). Senator Lummis had suggested this idea during the Trump election campaign, and it is expected to involve acquiring one million BTC over five years, as outlined in the Bitcoin Act 2024.

Could the Made In The USA Category Gather Momentum

There is widespread optimism regarding the potential of this sector driven by regulation changes. Trump's favorable stance on cryptocurrencies and the supportive teams he is assembling are expected to propel the crypto market to record highs. The positive momentum may be further boosted by the appointment of pro-crypto figures like SEC Commissioner Hester Pierce to head a new crypto task force or through collaborations with the Department of Government Efficiency. (DOGE)

In a notable change, the Trump Administration has recently overturned the SAB 121 rule, allowing banks to offer cryptocurrency custody services. This action is anticipated to enhance confidence among institutional investors, encouraging them to explore cryptocurrency investments. It will also enable publicly traded companies to consider adding Bitcoin to their portfolios without reservations. As the regulatory landscape for cryptocurrency in the US becomes increasingly favorable, we may witness a resurgence of crypto projects returning to the country, potentially involving hundreds of initiatives making the transition.

Source: X

It is well-recognized among cryptocurrency enthusiasts that the United States has not provided a favorable environment for cryptocurrency projects and enterprises in recent years. Consequently, numerous companies have relocated offshore to countries with a more welcoming atmosphere. 
 
Given the positive developments in the regulatory landscape, the current situation may significantly evolve. Furthermore, there is a perspective that the "Made In The USA" narrative could motivate other jurisdictions to adopt a more favorable stance towards cryptocurrencies to remain competitive, potentially influencing jurisdictions that have historically opposed cryptocurrencies, such as China. 

Interestingly, CoinGecko has launched a new classification titled "Made In China. " It currently features a more condensed list of 15 entries, including notable names such as TRON, OKB, VeChain, and NEO. As revealed on the social media platform X, the creation of this category coincides with the celebration of the Chinese New Year.

Source: CoinGecko X 

What Type Of Cryptos Will Benefit

The shift in Trump's policies may benefit numerous US-based cryptocurrencies, offering various research options. However, the question remains: Which type of crypto will demonstrate long-term viability? Historically, cryptocurrencies with practical applications have shown greater promise than those lacking utility. These utility-focused tokens enable specific functions within a blockchain network and are more likely to appreciate and gain widespread acceptance. Several key factors are worth considering when evaluating their potential.

Practical Applications: Utility tokens unlock exclusive benefits and functionalities within a blockchain network. Take Solana (SOL), for instance, which empowers users to engage with DeFi platforms, acquire NFTs, and utilize dApps. Additionally, its Saga phone initiative extends the token's utility to the mobile realm, granting access to bespoke apps fueled by the Solana blockchain. This tangible value proposition can draw in more users and developers, ultimately driving up the token's worth and long-term viability.

Hivecoin (HVC) fits into this category as a utility token for Markethive’s various products and services in online marketing and digital broadcasting. Markethive is distinguished by its utility token, Hivecoin (HVC), which powers a range of online marketing and digital broadcasting tools. This platform allows users to generate income through engagement, leveraging a user-friendly social media interface. Users can also amplify their earnings through staking, engage in gamification activities, and even receive a share of the company's net revenue. 

Market Demand: The worth of utility tokens is influenced by the level of interest and adoption within the market. When a token gains widespread acceptance and usage among individuals and organizations, its value tends to appreciate. A notable example is Binance Coin (BNB), which has become a sought-after utility token due to its versatility in facilitating payments for trading fees, transaction fees on the Binance Smart Chain, and other services.

Long-Term Potential: Investors generally see utility tokens as having more attractive long-term potential because of their inherent value. Field experts argue that cryptocurrencies with real-world applications tend to endure market downturns better and maintain their relevance over time. This resilience is linked to their capacity to provide tangible benefits and meet actual needs, distinguishing them from speculative or novelty tokens that do not have a defined purpose.

Ecosystem Development: A thriving ecosystem is a key indicator of a token's prospects for success. Projects with dedicated development teams, consistent progress, and a well-defined strategic plan are generally better positioned for long-term growth and achievement.

The Connection Between Utility and Valuation

Consider the potential increase in utility companies' value if they capture a small portion of the economic activity generated by their essential services. For instance, consider the possibility of water companies profiting from the monetary value generated by individuals using water or electric utility companies obtaining a fraction of the economic value generated by using electricity in various parts of their homes. That's precisely what happens with utility cryptos. 

For example, SOL's price is closely tied to the level of economic activity within the Solana blockchain ecosystem. Similarly, as the value of the decentralized social market broadcasting network Markethive increases, its native currency, Hivecoin, is expected to rise accordingly. This is due to its ability to provide essential products and services with HVC as the primary transactional coin that facilitates various applications, including exchange transactions, payment processing, smart contract execution, and tokenization within the Markethive ecosystem.

Generally, a cryptocurrency's value is directly correlated with its utility. The greater a cryptocurrency's versatility and functionality, the more extensive and diverse its network of users and developers will likely be. This correlation can subsequently lead to increased potential for expansion and development, fostering growth and further adoption.

In essence, cryptocurrencies that serve a purpose are more likely to succeed because of their practical applications, user adoption, market demand, long-term potential, regulatory compliance, and ecosystem development. Investing in such tokens can be a strategic choice for those looking to capitalize on the growing blockchain and cryptocurrency landscape.

In conclusion, while the broader market is anticipated to gain from a Trump administration, specific U.S.-based cryptocurrencies may be exceptionally well-placed to take advantage of the evolving regulatory conditions. The Trump administration marks a possible turning point for the U.S. cryptocurrency sector. Although the specific policies are yet to be determined, the prevailing sentiment appears optimistic. U.S.-based cryptocurrencies that can adjust to the shifting regulatory landscape and seize emerging opportunities will likely thrive in the years ahead.

This article is provided for informational purposes only and should not be relied upon as legal, business, investment, or tax advice. Furthermore, however plausible, the contents of this article may include speculative opinions. Of course, there is nothing wrong with speculation as long as its premises are made clear. Speculation is the customary way to begin the exploration of uncharted territory as it stimulates a search for evidence that will support or refute it.

Could Bitcoin Reach A $1 Million Milestone Sooner Than Later? Here's A Possible Path To Achieving It

In the past half-year, Bitcoin (BTC) has seen remarkable expansion, with its value rising by 50% and breaking the $100,000 barrier for the first time. The cryptocurrency community is bullish on the recent election outcome, expecting President Donald Trump's leadership to fuel further growth and propel Bitcoin to new levels in the years to come. The cryptocurrency space is abuzz with interest, and a recent announcement from the Trump administration, which is seen as more crypto-friendly, has sparked anticipation that it could be a catalyst for even more incredible price appreciation for Bitcoin.

Following Gary Gensler's resignation as the Chairman of the Securities and Exchange Commission (SEC), known for his negative stance on cryptocurrency, Mark Uyeda has taken on the role of acting chairman. Uyeda is recognized for supporting cryptocurrency and blockchain advancements, marking a notable shift from Gensler's strict regulatory strategies. Uyeda's more favorable stance towards cryptocurrency could potentially lead to less stringent regulations, positively impacting Bitcoin's value. Uyeda will serve as acting chairman until the Senate confirms Paul Atkins, the nominated SEC chairman.

Government Establishes New Task Force to Create Cryptocurrency Guidelines

Mark Uyeda has recently introduced a new team to create a well-defined set of rules for crypto assets. This move has the potential to enhance the trustworthiness and legality of cryptocurrencies. The task force's role is to establish clear guidelines for the issuance and trading of cryptocurrencies, which could provide more certainty for investors and potentially increase the value of Bitcoin. 

Introducing a registration system for new coins could also lower the risks associated with investing in them. Furthermore, it addresses the question of whether cryptocurrencies should be classified as securities by the SEC and outlines the guidelines that issuers of crypto assets must follow.

If the task force were to establish rules that support cryptocurrency, which numerous investors anticipate due to Trump's approving remarks during his campaign and his strong ties with pro-crypto advocate Elon Musk, it could significantly boost the value of Bitcoin in the current year.

What Would It Take For Bitcoin To Reach $1 Million?

Cathie Wood is an American investor and the founder, CEO, and chief investment officer (CIO) of Ark Invest, an investment management firm. She is recognized for her emphasis on thematic investing strategies that capitalize on megatrends expected to influence the global economy in the coming decades. She has strong faith in the promise of disruptive innovation.

Approximately two years ago, she garnered significant attention by boldly predicting that Bitcoin's value would ascend to $1 million by 2030. This forecast was made before Bitcoin surpassed the $100,000 threshold and coincided with the introduction of spot Bitcoin exchange-traded funds (ETFs) in January 2024. At that particular juncture, Bitcoin was recovering from the severe cryptocurrency downturn in 2022, which raised questions regarding its future potential.

In a recent conversation with Bloomberg, Cathie Wood updated her forecast and now posits that Bitcoin has the potential to attain a value of $1 million before 2030. The catalyst for this revised prediction is the greenlighting of Bitcoin exchange-traded funds. Nevertheless, despite the significant impact of these ETFs, Wood contends that this development represents merely the initial step in Bitcoin's progression within traditional finance.

She pointed out that all significant price movements so far have occurred before any wirehouse entered the Bitcoin market. These prominent institutions, which include well-known names like Morgan Stanley, Wells Fargo, and Bank of America, wield considerable influence in areas such as investment guidance, wealth management, and brokerage. If these industry giants were to embrace Bitcoin, it could trigger a chain reaction that propels the cryptocurrency to unprecedented levels.

Historically, wirehouses have maintained strict policies focused on concerns of suitability, eligibility, and the risks associated with offering Bitcoin and related products to clients. While these policies may have evolved, the core reluctance to fully embrace cryptocurrencies remains due to regulatory, risk, and compliance issues. However, this may all change with the pro-crypto Trump administration. 

According to Wood, institutions recognized for their substantial resources and financial assets, greater involvement from these institutions could play a pivotal role in accelerating Bitcoin's rise to the highly anticipated $1 million milestone. However, Wood emphasizes that we haven’t even begun until wirehouses become more actively involved.

She believes major political and regulatory shifts could drive cryptocurrency to unprecedented levels. Following Donald Trump's election, Wood expects a rise in private company acquisitions, previously impeded by "regulatory red tape. " She argues this will create significant opportunities for investors and venture capitalists. Additionally, she indicated that, under ideal circumstances, it could rise to $1.5 million. 

Wood posits that Bitcoin represents a groundbreaking transformation in the financial landscape. The emergence of a currency like Bitcoin is unprecedented and marks a historic milestone. In her interview, Wood highlighted that Bitcoin is uniquely distinguished as “the first global, private, digital, decentralized, rules-based monetary system in history."

These traits position Bitcoin to spearhead a monetary revolution that may transform the financial autonomy of individuals, organizations, and potentially entire nations. Considering all factors, Wood anticipates Bitcoin's market cap could skyrocket to over $20 trillion, catapulting the price of a single Bitcoin to a staggering $1 million or more.

What Other Influences Are Driving Wood's Positive Outlook On Bitcoin?

Cathie Wood correlates Bitcoin’s recent and prospective growth with market dynamics and its intrinsic scarcity. She highlights a sharp distinction between Bitcoin and gold, pointing out that while rising gold prices generally stimulate increased production, Bitcoin’s fixed supply guarantees its scarcity will only grow over time. She remarked that Bitcoin is becoming increasingly scarce compared to gold, strengthening her conviction in Bitcoin’s unique value proposition.

One of the factors contributing to the significant appreciation of Bitcoin's value is its intrinsic scarcity. The Bitcoin protocol caps its total supply at 21 million coins, with 19.8 million already mined. The supply of Bitcoin is meticulously regulated by its algorithm, making it impossible to increase production in the manner that can be done with gold.

The scarcity of Bitcoin is paramount, given the escalating interest in this cryptocurrency, evidenced by the rising number of individuals keen to acquire it. Consequently, the augmenting demand is anticipated to elevate the value of Bitcoin, attributable to its finite supply.

The Building Blocks To Bring BTC To $1 Million And Beyond

Wood employed a model based on building blocks to evaluate Bitcoin's potential worth, which informed her initial valuation estimate of $1 million. According to Ark Invest, several key factors contribute to the overall demand for Bitcoin, each playing a distinct role in shaping its market value.

A key factor driving the market is the growing appetite of institutional investors, who are increasingly diversifying their portfolios by allocating a more significant share to Bitcoin. The recent introduction of spot Bitcoin ETFs has given these investors a powerful tool to fine-tune their Bitcoin exposure. Notably, 2024 marked a significant turning point as the market transitioned from being driven by individual speculation to substantial investment from institutional players.

Another building block and a key driver of Bitcoin's growth is its increasing appeal as a long-term store of value. Historically, the idea of replacing traditional gold with "digital gold" in the form of Bitcoin had not gained significant traction. However, a growing number of investors are now turning to Bitcoin as a safeguard against rising inflation.

Another fundamental component is what Wood describes as a "nation-state treasury," which represents the demand from central banks and sovereign governments. Globally, nation-states are considering the potential of holding Bitcoin as a reserve asset.

A prominent illustration is President Donald Trump's commitment to establish a strategic Bitcoin reserve for the United States during his campaign. According to the existing framework of the proposal, the federal government aims to acquire 1 million units of the cryptocurrency over five years, with a suggested retention duration extending to twenty years.

Moreover, several states, including Texas, Florida, and Pennsylvania, plan to set up their own strategic Bitcoin reserves, indicating that the trend of government ownership of Bitcoin is gaining traction. This move could prompt other nations to explore integrating Bitcoin into their national reserves, further legitimizing and stabilizing the cryptocurrency market.

Check out this intriguing video explaining why Bitcoin is not a bubble.

The Massive Scale And Adoption Of Bitcoin To $1 Million

A Bitcoin valuation of $1 million suggests a significant increase in investment in Bitcoin, fueled by its wide adoption and recognition as a valuable asset on a global scale. The potential outcomes are extensive:

Economic Impact: The economic significance of Bitcoin reaching a market capitalization of $20 trillion would catapult Bitcoin to a prominent position as a major asset class, potentially influencing global monetary policies and financial systems. Such a market cap would surpass the GDP of many countries, positioning Bitcoin's value close to that of the United States, which currently has a GDP of around $23 trillion.

Change in Investment Focus: Potential strategies could divert funds from conventional investments such as equities, fixed-income securities, and property to Bitcoin. The decision by prominent companies like MicroStrategy, Tesla, and Square to incorporate Bitcoin into their financial holdings suggests a rising recognition of its validity as a distinct investment category. As a result, the increasing perception of Bitcoin as a reliable store of value could significantly impact its market value.

Global Influence: Bitcoin possesses the potential to become an integral component of the global financial system, impacting various sectors, including banking, monetary transfers, and international commerce. The network effect plays a crucial role in the extensive adoption of Bitcoin. As more individuals participate in and invest in Bitcoin, its utility and value are augmented. This positive feedback loop can increase acceptance, establishing a cycle that enhances Bitcoin's value.

Final Thoughts

For Bitcoin to achieve a market cap of $20 trillion, various factors, such as market trends, acceptance levels, technological advancements, and broader economic conditions, must converge harmoniously. Like the value of any asset, Bitcoin's value is influenced by the prevailing market sentiment. Changing how Bitcoin is perceived—from a speculative asset to an integral component of financial frameworks—could significantly drive its value to such substantial levels.

Economic instability or inflation in conventional currencies has already demonstrated an ability to attract more investors to Bitcoin, which is regarded as a "store of value." Should traditional financial systems encounter substantial crises, Bitcoin will likely be perceived as an increasingly safer alternative, enhancing its perceived value.

While a $1 million valuation for Bitcoin within the next five years may seem unlikely to some, it's unwise to rule out any possibility in the fast-paced and evolving realm of cryptocurrencies. The increasing interest in Bitcoin from a broad range of buyers, including individual investors, financial institutions, corporations, and governments, is a trend that cannot be overlooked. With a scarcity in supply and high demand, prices are expected to rise significantly in the future.

The culmination of successful introductions of Bitcoin ETFs, favorable macroeconomic policies, and growing institutional involvement marks a significant turning point for Bitcoin. These factors are expected to propel Bitcoin's transition from a speculative investment to a widely accepted financial tool, appealing to a broader range of investors and cementing its position in the global economic landscape.

This article is provided for informational purposes only and should not be relied upon as legal, business, investment, or tax advice. Furthermore, however plausible, the contents of this article may include speculative opinions. Of course, there is nothing wrong with speculation as long as its premises are made clear. Speculation is the customary way to begin the exploration of uncharted territory as it stimulates a search for evidence that will support or refute it.