Originally published on: November 11, 2024
After the recent political victories of Donald Trump and the Republicans, Bitcoin is set to become a crucial political asset, according to the New York Digital Investment Group (NYDIG). In a note on November 11, NYDIG’s global head of research, Greg Cipolaro, emphasized that investors who have not allocated to Bitcoin cannot afford to ignore it any longer.
With Bitcoin’s value surging by 84% this year and reaching new highs close to $82,000, owning the cryptocurrency has become a necessity in the current political climate. The Republicans, who have shown support for the crypto industry, are now set to hold the majority in the Senate and likely maintain control of the House.
Cipolaro predicts that the crypto industry will have a more prominent role in government decisions, leading to greater acceptance of crypto and blockchain in the financial system. He also anticipates significant changes in regulatory bodies, with a more favorable stance on cryptocurrencies likely to emerge.
As the SEC potentially undergoes leadership changes, there may be a shift towards a more accommodating regulatory environment for crypto companies. This could result in settlements with companies currently facing legal challenges, providing them with clearer regulatory guidelines and allowing them to operate more freely.
Looking ahead to 2025, Cipolaro expects pro-crypto legislation and regulations to be implemented, paving the way for increased integration of digital assets into the financial industry. Additionally, new regulatory heads may support banks in offering custody services for digital assets, including stablecoins.
With these developments on the horizon, owning Bitcoin is no longer just a smart investment – it’s a political imperative. Don’t miss out on this opportunity to stay ahead in the evolving financial landscape. Subscribe now to get exclusive insights and expert analysis on investment opportunities and market trends.
