As Bitcoin surged above $86,000 last week following Donald Trump’s election victory, research and brokerage firm Bernstein issued a bullish call urging investors to expand their cryptocurrency holdings “as soon as possible.”
Gautam Chhugani, Bernstein’s head of crypto research, warned in a note to clients: “Don’t fight it. Welcome to the crypto bull market, grab what you can get.”
Chhugani urged hesitant investors to reconsider their previous reservations about crypto, citing the potential of Trump, who campaigned on pro-crypto policies, to provide a friendlier regulatory environment. Trump’s proposals included plans to create a national Bitcoin reserve and end strict regulatory oversight, moves that analysts believe could fuel institutional and government adoption of Bitcoin as a treasury asset.
Chhugani also highlighted Trump’s transition team’s alignment with the crypto industry. Vice President-elect JD Vance, along with advisors RFK Jr. and Vivek Ramaswamy, are known advocates for digital assets, and Silicon Valley allies like Andreessen Horowitz (a16z) and David Sacks also support the industry. The crypto industry has spent an estimated $130 million supporting pro-crypto congressional candidates, contributing to an environment conducive to digital asset adoption.
For investors looking to take direct exposure, Bernstein laid out a diversified basket of digital assets including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Optimism (OP), Arbitrum (ARB), Polygon (POL), Uniswap (UNI), Aave (AAVE), and Chainlink (LINK).
*This is not investment advice.