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

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

2024/03/22 01:22
Matthew Sigel, head of digital asset research at VanEck, said that the election results between Biden and Trump could have a significant impact on the cryptocurrency industry. Sigel stated that if Biden fails, it will be beneficial for digital assets and their wider adoption.
 
Bitcoin is currently in the early stages of a bull market, driven by new interest in spot Bitcoin ETFs on the U.S. market. Sigel said that VanEck has long recognized Bitcoin's disruptive potential and pursued a Bitcoin ETF, but this effort was hindered by the SEC. 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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