{"id":19453,"date":"2024-11-11T09:25:57","date_gmt":"2024-11-11T09:25:57","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=19453"},"modified":"2024-11-11T09:25:57","modified_gmt":"2024-11-11T09:25:57","slug":"bitcoin-emerges-as-key-political-asset-following-gop-election-wins-says-nydig","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=19453","title":{"rendered":"Bitcoin Emerges As Key Political Asset Following GOP Election Wins, Says NYDIG"},"content":{"rendered":"

Following the recent electoral victories of Donald Trump and the Republican party, Bitcoin is set to become a significant political asset, according to <\/span>insights from the New York Digital Investment Group (NYDIG)<\/span><\/a>. <\/span><\/p>\n

On 11 November 2024, the investment management firm said investors who have yet to embrace Bitcoin may <\/span>find themselves<\/span> at a disadvantage as crypto prices continue to surge.<\/span><\/p>\n

\u201cWhile some investors have allocated to Bitcoin, the most common allocation for investors is still zero,\u201d said Greg Cipolaro, NYDIG\u2019s global head of research. \u201cThere are no excuses now.\u201d\u00a0<\/span><\/p>\n

EXPLORE:\u00a0<\/span>15 Best No KYC Crypto Exchanges for 2024<\/span><\/a><\/strong><\/p>\n

Bitcoin Is Up 84% <\/span>YTD<\/span><\/h2>\n

Bitcoin has surged by 84% this year, reaching new heights near $82,000. This rally is fueled <\/span>in part<\/span> by the political landscape shaped by Trump\u2019s presidency. <\/span><\/p>\n

With the Republicans poised to maintain control over <\/span>both<\/span> the Senate and possibly the House, the political climate appears increasingly favorable for the cryptocurrency sector.<\/span><\/p>\n

The Republicans\u2019 success in retaining a Senate majority and their favorable stance toward legislation, supported by the crypto industry, suggests a more secure place for blockchain and cryptocurrency at the highest levels of government. <\/span><\/p>\n

According to Cipolaro, this could lead to greater mainstream acceptance and integration of these technologies within the financial system.<\/span><\/p>\n

INSIGHT: Bitcoin to become a “political imperative,” owning none may be “a liability” \u2014 NYDIG<\/p>\n

Greg Cipolaro, NYDIG\u2019s global head of research, warns: \u201cInvestors who may have found it easy to dismiss or ignore the asset for various reasons will continue to do so at their\u2026 pic.twitter.com\/y5vcJlzTyM<\/a><\/p>\n

\u2014 Catch The Latest (@CatchTheLatest) November 11, 2024<\/a><\/p>\n\n

Looking ahead to 2025, Cipolaro anticipates significant changes in the leadership of <\/span>major<\/span> agencies and departments, which could pave the way for pro-crypto legislation and regulations. <\/span><\/p>\n

He also noted potential changes at the Securities and Exchange Commission (SEC), where Trump has indicated plans to replace current Chair Gary Gensler. Under Gensler\u2019s tenure, the SEC came to be known for its rigorous enforcement actions against various crypto companies.<\/span><\/p>\n

Cipolaro speculates that a shift in leadership could soften the SEC\u2019s stance, possibly leading to settlements that allow crypto companies to operate within a <\/span>clearer<\/span> regulatory framework. <\/span><\/p>\n

Some lawsuits may even be dropped<\/span> if <\/span>they are<\/span> deemed not to serve the public interest. This shift could also affect potential enforcement actions previously hinted at through Wells notices to major crypto players like Robinhood, Crypto.com, and others.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>17 Best Crypto to Buy Now in 2024<\/span><\/a><\/strong><\/p>\n

Pro-Crypto Bosses To Take Over Key Positions<\/span><\/h2>\n

Cipolaro said further regulatory changes <\/span>are expected<\/span> under the new administration, with likely appointments of pro-crypto advocates to lead the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Treasury. <\/span><\/p>\n

These changes could foster a more supportive environment for banks to provide custody services for digital assets, including stablecoins, enhancing the integration of cryptocurrencies into the broader financial ecosystem.<\/span><\/p>\n

Meanwhile, Andreessen Horowitz\u2019s (a16z) crypto division also views the reelection of Trump as a pivotal moment for the future of cryptocurrency regulation in the United States. <\/span><\/p>\n

\u201cThe good news is that there is now a pathway for constructive engagement with regulatory agencies and legislation that can bring regulatory clarity,\u201d a16z told crypto founders in a new post. <\/span><\/p>\n

\u201cYou should now all feel empowered to explore all of the groundbreaking products and services that blockchains enable, including tokens.\u201d<\/span><\/p>\n

EXPLORE:\u00a0<\/span>Bitcoin Surges to Record High as Trump Wins U.S. Election<\/span><\/a><\/strong><\/p>\n

The post Bitcoin Emerges As Key Political Asset Following GOP Election Wins, Says NYDIG<\/a> appeared first on <\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Following the recent electoral victories of Donald Trump and the Republican party, Bitcoin is set to become a significant political asset, according to insights from the New York Digital Investment Group (NYDIG). On 11 November 2024, the investment management firm said investors who have yet to embrace Bitcoin may find themselves at a disadvantage as […]<\/p>\n","protected":false},"author":0,"featured_media":19454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-19453","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19453"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19453"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19453\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/19454"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}