Bitcoin

Bitcoin is becoming more significant in politics, especially after Donald Trump’s re-election, according to a recent report from NYDIG. 
The financial firm shared a report via X released on November 11, arguing that Bitcoin is no longer just a financial asset but is becoming something that political leaders can’t ignore.&nbsp; 
NYDIG’s global head of research, Greg Cipolaro, stated that Bitcoin is now “a political imperative” and warned that not owning it could soon be a “liability” for investors. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full is-resized">
 <img loading="lazy" decoding="async" width="711" height="474" src="https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Wins-Big-as-Republicans-Take-White-House.png" alt="Bitcoin Wins Big as Republicans Take White House: NYDIG" class="wp-image-213435" style="width: 100%;height:auto" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Wins-Big-as-Republicans-Take-White-House.png 711w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Wins-Big-as-Republicans-Take-White-House-615x410.png 615w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Wins-Big-as-Republicans-Take-White-House-420x280.png 420w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Wins-Big-as-Republicans-Take-White-House-330x220.png 330w" sizes="(max-width: 711px) 100vw, 711px">
 <figcaption class="wp-element-caption">
 Source:&nbsp;<a href="https://x.com/NYDIG/status/1856010157152420175?ref_src=twsrc%5Etfw" target="_blank" rel="noreferrer noopener">X</a>
 </figcaption>
 </figure>
</div> 
The report also looked at how Trump’s influence could affect U.S. government agencies that regulate Bitcoin, like the SEC, OCC, FDIC, and Treasury. With new leaders likely to take charge at these agencies, the report suggests that the government could ease rules that have made it harder for digital assets to grow.&nbsp; 
Trump has shown support for Bitcoin, including a plan to create a U.S. Bitcoin reserve using forfeited Bitcoin from law enforcement actions. While there may be legal issues, this proposal signals a shift in how the U.S. might handle Bitcoin in the future. 
Meanwhile, Trump’s interest in Bitcoin goes beyond just supporting it as an investment. He has also started selling NFTs and is planning to launch a new DeFi project called World Liberty Financial. This shows he’s fully backing the idea of digital assets, which could mean more support for Bitcoin and other cryptos in the future. 
Moreover, Bitcoin has seen a huge price jump recently, hitting a new high of $87,000 earlier today. Even though more people are starting to invest in it, many still haven’t jumped on the Bitcoin train yet. Cipolaro pointed out that ignoring Bitcoin could soon be a financial mistake, as the asset becomes more central to the political and economic future. 
The report also mentions that with Republicans now in control of key government agencies, there is hope for new laws and policies that could benefit the crypto world. However, the details of these changes will depend on who gets appointed to these positions. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/11/11/microstrategy-buys-2b-more-in-bitcoin-at-74463-per-coin/" target="_blank" rel="noreferrer noopener">MicroStrategy Buys $2B More in Bitcoin at $74,463 per Coin</a> 
</blockquote>

Bitcoin Wins Big as Republicans Take White House: NYDIG

The Crypto Times

Other articles published on Nov 11, 2024

Coinbase stock breaks $300 for first time since 2021

NYDIG Declares Bitcoin a “Political Imperative” for U.S. Investors

Top 5 Memes to Buy Now Before the Bull Run Explodes 2024

Will Bitcoin Break The $300,000 Mark? Reasons To Believe It

China’s Nano Labs embraces Bitcoin as payment option

ZettaBlock Launches Kite AI for Secure and Equitable Decentralized AI Development

Join our free newsletter for daily crypto updates!