The leading cryptocurrency Bitcoin (BTC) experienced a major rise after Donald Trump became the US president again.
As BTC races from record to record, analysts predict that Bitcoin will gain more importance.
At this point, New York Digital Investment Group (NYDIG) stated in a recent report that Bitcoin will gain more political importance following Trump's victory and that BTC investment has become a political necessity.
Greg Cipolaro, head of global research at NYDIG, said Donald Trump’s victory and the Republican majority in the Senate and House of Representatives make Bitcoin investment a political necessity.
Cipolaro stated that people who do not have cryptocurrency investments can no longer ignore Bitcoin after Trump's victory, and said that investors no longer have an excuse to avoid investing in Bitcoin:
“Although some investors have invested in Bitcoin, it is still low as the most common investment for investors. However, investors no longer have any excuses.
Bitcoin will now become a political necessity for investors.
Not owning Bitcoin will become a liability in the future.
“This includes Trump's positive outlook and the expectation of more moderate regulations.”
Greg Cipolaro said a post-election leadership change at the SEC could lead to a more cohesive regulatory effort, recalling Trump’s promise to fire SEC Chairman Gary Gensler on day one.
“We anticipate that by 2025, new heads of nearly every major agency and department will finally have real potential for pro-crypto legislation and regulation. Moreover, the SEC could seek settlements with crypto companies it has previously indicted or drop some cases deemed not to be in the public interest,” Cipolaro said.
*This is not investment advice.