VanEck: Bitcoin is in the early stages of a bull market, and a Trump election victory would be beneficial for cryptocurrencies

2024-03-22 09:33:15

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ChainCatcher news, according to Decrypt, VanEck's Head of Digital Asset Research Matthew Sigel stated that the election results of Biden and Trump could have a significant impact on the cryptocurrency industry. Sigel mentioned that a Biden loss would be beneficial for digital assets and their broader adoption.

Bitcoin is currently in the early stages of a bull market, driven by new interest in Bitcoin spot ETFs in the U.S. market. Sigel noted that VanEck has long recognized Bitcoin's disruptive potential and has pursued a Bitcoin ETF, but the SEC has hindered this effort. Although some financial institutions have not considered adding Bitcoin to their regular investment products, Sigel expects that as more companies reconsider Bitcoin, financial advisors' views on digital assets may change.

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